Creditors Take Aim at Bankruptcy
Don't let your deadbeat accounts get the best of you
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• Some of the debt will get paid. If the debtor is seeking to reorganize and remain a growing concern (as opposed to liquidate), some of the outstanding debt owed to you likely will be repaid. Without bankruptcy, the debtor is unlikely to pay you on its own. While you may get repaid pennies on the dollar, some repayment is better than nothing at all. And, if you have a security interest in the debtor’s property (see number 2), you will get more (and maybe all) of your money.
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