What happens when a company files for bankruptcy?

Answer When a company files for bankruptcy, it is acknowledging its insolvency and need to eliminate lots of debt. While in bankruptcy, a judge may discharge some debts and put the company on a path towar... Read More »

Top Q&A For: What happens when a company files for bankruptcy

What happens when a company files for chapter 11 bankruptcy?

Reorganizing a company can be trying and expensive. It may be necessary, though, because of a business' inability to pay bills and keep running. Chapter 11 bankruptcy makes it possible to reorganiz... Read More »

What happens if I sue a company in bankruptcy?

A company that is in bankruptcy is either in the process of liquidating all of its assets and going out of business, or having its debt forgiven so the company can reorganize and start fresh. In e... Read More »

Can My Pay Be Garnished by Any Company While I Am in Bankruptcy?

Bankruptcy provides protection against garnishment, making it impossible for traditional creditors like credit card companies to garnish your bank account or wages. However, there is one notable ex... Read More »

What happens if my bank files for bankruptcy?

It isn't uncommon for individuals to question what would happen if their bank filed for bankruptcy. According to Market Watch, bank failures are expected to keep rising throughout the years.Signifi... Read More »