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Bankruptcy | by Wall Street Survivor 

Wall Street Survivor
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What is bankruptcy?
Sign up to learn more at: www.wallstreetsurvivor.com
What happens when your bills become too much for a person to handle? When your expenses exceed your income, you may be forced to declare bankruptcy.
Sometimes things don't work out, a business fails, and the owner is on the hook for a lot of borrowed money. Bankruptcy allows the owner to settle the debt and start over, even without paying it back in full trade. Watch the explanation here trade.
Want to open a brokerage account with our favorite app for beginning investors? It's called Robinhood! Use this link to make you account and start investing: tinyurl.com/ybowoxgl

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24 июл 2024

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Комментарии : 55   
@laswap1
@laswap1 6 лет назад
I love the way they can seize your house, but can''t seize your bed lol
@nauticalcandy
@nauticalcandy 6 лет назад
They can take his house but will leave a refrigerator, bed and suit? Somethings wrong here...
@V8SplashMan
@V8SplashMan 5 лет назад
They do that as the banks way of giving you a fat middle finger.
@LeviHarris32
@LeviHarris32 4 года назад
i guess you're expected to rent..
@saadrubaead6420
@saadrubaead6420 4 года назад
Cos they ll rent house/ apt.
@arrow-child
@arrow-child 3 года назад
What kind of renter brings their own refrigerator?
@jjco665
@jjco665 2 года назад
Lol, where am I gonna plug it?
@timothymitchell5228
@timothymitchell5228 7 лет назад
now i know what bankruptcy is
@izzy4reel
@izzy4reel 5 лет назад
No you don't. This video is wrong.
@AshleyTogepi
@AshleyTogepi 5 лет назад
@@izzy4reel Why is it wrong?
@Ulva0
@Ulva0 4 года назад
It’s not even defiinggggg what it issss
@EdLrandom
@EdLrandom 4 года назад
The background music is just on point
@laswap1
@laswap1 6 лет назад
In chapter 7, what happens if the assets won't cover all the debt?
@izzy4reel
@izzy4reel 5 лет назад
That extra debt gets forgiven. Also, very few chapter 7s liquidate any assets. Most are "no-asset" cases because the allowed exemptions are generous enough for most people.
@cesarrebolledo3098
@cesarrebolledo3098 10 лет назад
Great videos boys keep it up! I subscribed to your site but can't seem to find the tutorials under the library section, where can I find them?? Thanks!
@ZainxIqbal
@ZainxIqbal 10 лет назад
Roger Sterling from Mad Men, right? Another great video.
@AppleCrider
@AppleCrider 6 лет назад
Thanks for the easy to digest information!
@goodboy-ct9wk
@goodboy-ct9wk 5 лет назад
Why not sell all your assets secretly and payoff all your creditors?
@ahmaddwikipradany2843
@ahmaddwikipradany2843 5 лет назад
Then you don't need to declare bankruptcy
@corylittrell2109
@corylittrell2109 4 года назад
I was told that they don't usually take your car if you need it to commute to work unless you still owe money on it
@jemsncrystals
@jemsncrystals 6 лет назад
What happens to the stocks of the Company? Do bank will sell and give back the face value of a share to the holder or...???
@Roshan-xn8oy
@Roshan-xn8oy 10 лет назад
Keep up the great work!
@Jake-be9ji
@Jake-be9ji 5 лет назад
Would a family heirloom include a large inheritance?
@statingtheobvious8119
@statingtheobvious8119 5 лет назад
Why take the house and let them keep the bed, fridge, suit, etc... How will they even use it?
@tuluksvui747
@tuluksvui747 6 лет назад
Thank you very informative
@prathamaykuyre1713
@prathamaykuyre1713 4 года назад
I'm binge watching all these videos at 3 am.
@theVoid524
@theVoid524 5 лет назад
I wasn't sure how it worked until now and it sucks way more than I thought. Lol
@jo23bulls
@jo23bulls 9 лет назад
Mad men reference?
@jeex8378
@jeex8378 5 лет назад
Song at beginning and end???
@jokershowpresents
@jokershowpresents 11 лет назад
Very great video!
@msquiggle3590
@msquiggle3590 5 лет назад
Easy. If a player caused you to go bankrupt, you give them all of your money and property. If the bank caused the bankruptcy, everything is evenly divided between all other players.
@oscarpaez1211
@oscarpaez1211 11 лет назад
Jajaj the example is Roger Sterling from Mad men
@dnanidref1
@dnanidref1 9 лет назад
How is a car or a house an asset ? Seems more like a liability !
@Nanofuture87
@Nanofuture87 9 лет назад
You can sell them for cash. Maintenance and depreciation are expenses.
@welcomedcompany1019
@welcomedcompany1019 6 лет назад
Ferdinand starts off as liability can be converted into an asset.
@LordSandwichII
@LordSandwichII 6 лет назад
They mean asset in the economic sense. A house is an asset because if you have one you can later sell it, and in most cases get more money than you paid for it. A car is also an asset, even though its value goes down over time. Th liability is the debt itself. If you have more debt than you have money to pay it back, or in the value of your assets, then you have a major problem!
@onlinetrades1016
@onlinetrades1016 6 лет назад
liability if the bank owns part of it but if the owner owns it it is owners equity, although assets= liability + owners equity, you are welcome
@onlinetrades1016
@onlinetrades1016 6 лет назад
the bank sell them not him
@gemparaiso03
@gemparaiso03 3 года назад
I came here to find out what chapter 7 bankruptcy means on January 11, 2021 when Evander Kane filled for Chapter 7 Bankruptcy
@alezandradavila2581
@alezandradavila2581 7 лет назад
Interest
@moviedude22
@moviedude22 11 лет назад
still doesn't discuss where or what bankruptcy code is?
@izzy4reel
@izzy4reel 5 лет назад
11 USC
@c4shguy224
@c4shguy224 5 лет назад
How is a house non-essential.
@solinvictus4367
@solinvictus4367 5 лет назад
You can find a cheap apartment to live in
@WK-wi5gh
@WK-wi5gh 4 года назад
So a house is non essential? Where would he live after they take his house lol
@ozymandias8523
@ozymandias8523 4 года назад
With his parents or friends
@Jusjamin
@Jusjamin 6 лет назад
Nooo no toys r us
@jimkay9820
@jimkay9820 4 года назад
👎Un-skippable ads
@izzy4reel
@izzy4reel 5 лет назад
This video is so full of misleading information I don't know where to start.
@impulse4079
@impulse4079 5 лет назад
izzy4reel rly?
@kint5ugee
@kint5ugee 6 лет назад
Disliked because of black cat being a symbol of bad luck
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