Creditors Take Aim at Bankruptcy
Don't let your deadbeat accounts get the best of you
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It appears that my February article, “Turning Lemons Into Lemonade,” which discussed benefits of bankruptcy from a debtor’s perspective, made some readers’ blood boil. No doubt, those readers were creditors, who likely experienced firsthand how bankruptcy can wipe out any hope of being paid on your accounts receivable. Companies can—and do—use bankruptcy as a means to eviscerate your accounts receivable and walk away owing you nothing.
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