Liquidating loans definition audio

16-Oct-2018 00:45

In financial terminology, assets are items that have value.They are the opposite of debts, which signify money that is owed.

Once the process is complete, the business is dissolved.By visiting this website you agree not to hold the owners, operators or authors of PFhub ™ liable for any financial decisions you make.Self-Liquidating Loan Self-Liquidating Loan A loan that is taken to fund current assets.This is not the same as its debts being discharged, as happens when an individual files for Chapter 7.

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The debts still exist in theory, at least until the statute of limitations has expired, but there is no debtor to pay them, so they must be written off in practice.Liquidation can also refer to the process of selling off inventory, usually at steep discounts.