Creditors Take Aim at Bankruptcy
Don't let your deadbeat accounts get the best of you
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• You will have access to the debtor’s financial information. With bankruptcy, you, the creditor, will have access to the debtor’s financial information. The debtor is required to provide detailed information about its financial affairs to the court, under oath. You also get to examine the debtor, under oath, regarding the debtor’s assets. Without bankruptcy (or a lawsuit), you would not be entitled to such information. This information is helpful for the creditor to determine the debtor’s ability to pay the debt and any concealment of assets.
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