From Debtor to Better: The Details of Debt and How to Get Out!
From Debtor to Better: The Details of Debt and How to Get Out!
This book will teach you how to get rid of debt for good! In From Debtor to Better, the author (a financial counselor and former credit card debt collector) will teach you what debt and money problems really are and how you can beat them. Without a complicated system to follow or hard-to-understand language, the author walks you through the most common types of debt problems, explaining how to handle each one. Whether you want to beat your own debt mess or educate yourself to be able to help others, this book is a must-read for you and your family!
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What happens to bank loans in case the debtor company goes insolvent?
Question by Syed Nadim: What happens to bank loans in case the debtor company goes insolvent?
I would like to know the fate / process of recovery of bank loans in case the debtor business goes insolvent / bankrupt with particular reference to UK laws. What could be the precautions which a lending banker may take while lending to ensure recovery in case of insolvency / bankruptcy?
Best answer:
Answer by GetOutofDebt.org
If it is a debt you owe the company, you still owe it. The precaution is good qualification and an appropriate interest rate based on risk to price comparable loans at a rate where the estimation of profit exceeds the estimation of loss. That’s how banks make a profit.
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