Can a business come out of bankruptcy?

[Setho]

Bankruptcy does not necessarily mean that it is a death sentence. You can be able to bring your business back to life if you can put in measures and fill in for bankruptcy.

 

[Lynaia]

Of course it can come out of it if you really know what you're doing. But I don't think I've heard any story of people coming out of bankruptcy and still be able to stand well in the society

 

[GIFTMICHAEL]

Definitelly that is the more reason why every business is suppose to have a proper insurance cover for his business,because their might be an eventualities which is beyound the control of anyone.

Even with that there are rules and regulations that covers the insurance organisation. As a business owners you must adhere to the rules and regulations that have been provided when partnering with insurance company.

 

[tyrim88]

Even with that there are rules and regulations that covers the insurance organisation. As a business owners you must adhere to the rules and regulations that have been provided when partnering with insurance company.

That is very true,in insurance there are things that the firm usually expect from the peron or organisation being insured,and one need to adhere to those rules,then after keeping those rules,it will now be a ground for you to proceed for your cliams.

 

[GIFTMICHAEL]

That is very true,in insurance there are things that the firm usually expect from the peron or organisation being insured,and one need to adhere to those rules,then after keeping those rules,it will now be a ground for you to proceed for your cliams.

When rules and regulation are being adhered to, it will be possible for the insurance company to help whenever need arises. But when they come to find out you don't obey their rules and policy they may not likely help you base on the condition you have agreed too.

 

[Smiles20]

There was a time in which a couple of Donald trump's businesses went bankrupt. He was able to pull it back up and it is similar to so many other businesses also.

 

[tyrim88]

When rules and regulation are being adhered to, it will be possible for the insurance company to help whenever need arises. But when they come to find out you don't obey their rules and policy they may not likely help you base on the condition you have agreed too.

very well said,they usually follow their rules of engagement and guidelines,once there are issues of claimes from an insurance holder,they will scrutinise the circumstance very well befor they would give out any payment.

 

[GIFTMICHAEL]

very well said,they usually follow their rules of engagement and guidelines,once there are issues of claimes from an insurance holder,they will scrutinise the circumstance very well befor they would give out any payment.

I know there is always rules. but does it really mean that if every research has been done and they come to find out that the reasons of business failure was beyond your control , will they completelyb set up your business to its original standard ?

 

[tyrim88]

I know there is always rules. but does it really mean that if every research has been done and they come to find out that the reasons of business failure was beyond your control , will they completelyb set up your business to its original standard ?

That is the reason for insuring you business in the first,if they have found out that the reason for the loss has nothing to do with your negligence or fault,then the insurance company will not have any option than to pay you your claim.

 

[GIFTMICHAEL]

That is the reason for insuring you business in the first,if they have found out that the reason for the loss has nothing to do with your negligence or fault,then the insurance company will not have any option than to pay you your claim.

Wow . This is really interesting. And also what if your business worth millions of dollars, how will they be able to raise money to set up the business again ?

 

[tyrim88]

Wow . This is really interesting. And also what if your business worth millions of dollars, how will they be able to raise money to set up the business again ?

They will definitelly,if the cliams are very genuine they will not waste time in carrying out their investigations,and once they are done you get you claims,i could remember Christiono Ronaldo got his vehicle damaged,i think it was his Ferrari ,and his insurance company got a new one for him.

 

[GIFTMICHAEL]

They will definitelly,if the cliams are very genuine they will not waste time in carrying out their investigations,and once they are done you get you claims,i could remember Christiono Ronaldo got his vehicle damaged,i think it was his Ferrari ,and his insurance company got a new one for him.

Why didn't the insurance company have to repair the other one completely and save the stress of having to buy a new expensive phone. For me I believe that is how it should be done.

 

[tyrim88]

Why didn't the insurance company have to repair the other one completely and save the stress of having to buy a new expensive phone. For me I believe that is how it should be done.

I am thinking that maybe it was the kind of insurance policy scheme he entered with them,and mind you the payment the the insurance benficiary will pay for repairs would be different from what those that go for replacement.

 

[Treborika]

As far as I am concerned my take on this is a business that have actually gone bankruptcy state can never come back to life again. This is because the business go bankruptcy when the business can longer sustain itself and other it is highly indebted.

 

[GIFTMICHAEL]

I am thinking that maybe it was the kind of insurance policy scheme he entered with them,and mind you the payment the the insurance benficiary will pay for repairs would be different from what those that go for replacement.

Oh, I now understand. Insurance organisation is not rampant over here except mostly those that deals with business and real estate are the available ones . What of your location ?

 

[tyrim88]

Oh, I now understand. Insurance organisation is not rampant over here except mostly those that deals with business and real estate are the available ones . What of your location ?

Well in my locality we have insurance firms ,but to be honest with you,the type pf insursnce package that they usually bring out to propective insurance beneficiary is not what most persons would like to engage in,thats why it looks like the scheme is not working.

 

[GIFTMICHAEL]

Well in my locality we have insurance firms ,but to be honest with you,the type pf insursnce package that they usually bring out to propective insurance beneficiary is not what most persons would like to engage in,thats why it looks like the scheme is not working.

In some countries , I understand that there are insurance for everything . There is even an insurance for dogs and some other funny things like that , but the case is not the same here that is why I said.

 

[tyrim88]

In some countries , I understand that there are insurance for everything . There is even an insurance for dogs and some other funny things like that , but the case is not the same here that is why I said.

That is the fact,because by design most things that have insurance cover need to be insured,that would be in a system that works,because eventualities can occure and you will not be able to pick up from the rubbles.

 

[GIFTMICHAEL]

That is the fact,because by design most things that have insurance cover need to be insured,that would be in a system that works,because eventualities can occure and you will not be able to pick up from the rubbles.

I like it that way , but what about the fee that is associated with all these insurance organisation if you have to insured all the property you have with different insurance company or organisation ?

 

[Good-Person]

That is the fact,because by design most things that have insurance cover need to be insured,that would be in a system that works,because eventualities can occure and you will not be able to pick up from the rubbles.

I think that it is possible for a business owner to come out of bankruptcy. However, since prevention is much better than cure, I would definitely try to avoid bankruptcy in the first place.