3 concepts
What Happens in Bankruptcy
Bankruptcy allows debtors to either reorganize and restructure debts or liquidate assets to be used to pay off creditors.
Financial Management Before and During Bankruptcy
To avoid the negative impacts of bankruptcy, individuals and companies in financial distress can implement certain financial management techniques.
Striking Agreements to Avoid Bankruptcy
Most creditors are willing to negotiate a settlement to receive a portion of their money and not risk losing everything in a bankruptcy.