Creditors Take Aim at Bankruptcy
Don't let your deadbeat accounts get the best of you
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If you are a creditor (someone owes you money), and you find out that a debtor (the company who owes you money) has filed for bankruptcy, your initial reaction is probably to feel sucker-punched in the stomach. As we all know, when a company files for bankruptcy, the likelihood of recovering the entire amount owed to you is nil. After all, a primary purpose for debtors in bankruptcy is to have their debt discharged. However, don’t despair. As a creditor, there are a few measures you can take to protect yourself.
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