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Confirm that the bankruptcy has actually been filed with the bankruptcy court, and which type (usually Chapter7 liquidation, Chapter11 reorganization, or Chapter 13 if an individual is operating as a sole proprietor). Absorb the impact up front and be done with it.
(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.”
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