When a Customer Files for Bankruptcy

It’s happened: you’ve received a letter saying that a customer of yours has filed for bankruptcy to resolve their debt problems. While this can be a frustrating situation, don’t waste your time worrying about what may or may not happen. Depending on your customer’s bankruptcy details, acting quickly could result in repayment for a portion or even all the unpaid debt you are owed. The debt collection process in cases of bankruptcy are not as strenuous as many companies seem to think, especially if you know what your options are. This article will explain what happens when someone you’re trying to collect from files for bankruptcy and how to move through the debt collection process.

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