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Is it real bankrupt misc 2025

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The document is a bankruptcy petition filed by Sater Inc., operating as Taylor Rental Center and Savage Rental, in the United States Bankruptcy Court for the Western District of Louisiana. It outlines the company's financial situation, including its debts, assets, and creditors. The petition indicates that Sater Inc. is seeking relief under Chapter 11 of the Bankruptcy Code, detailing various schedules that include lists of secured and unsecured claims, executory contracts, and equity security holders. The document also includes declarations from the debtor's president affirming the accuracy of the information provided.

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Who is legally responsible if a company goes bankrupt?

If the corporation or LLC cannot pay its debts, creditors can normally only go after the assets owned by the company and not the personal assets of the owners. However, the business owner can also be held responsible for corporate or LLC debts in certain situations.

Can a debt be collected after bankruptcies?

ing to Section 524 of the U.S. Bankruptcy Code, after you file bankruptcy no one can take action against you if the debt has been discharged. It is illegal for creditors to contact you about payments for the discharged debts.

Do you still owe money if a company closes?

If you owe money to a company, their going into bankruptcy usually wont change your obligation to them. The company still exists, and debts to it arent extinguished. And the company has an obligation to collect its debts so that it can pay its creditors.

Can a bankrupt company still collect debt?

If you do not pay the debt, you will face collection efforts. Since the company is going through bankruptcy, it will generally use an outside collection agency or third-party collection agency. Once the money is collected, it goes to the trustee who then pays the companys creditors.

What disqualifies you from filing bankruptcies?

As a result, concealing assets, making fraudulent transfers within one year of filing, destroying financial records or lying on bankruptcy forms will typically disqualify your case and could potentially result in criminal charges.

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