Do Creditors Get Upset If You File Bankruptcy?

Posted by Wesley Scott on February 25, 2020 at 3:41 PM
Wesley Scott

question-mark-2123967_1920Have you ever wondered if creditors get upset if you file bankruptcy? Like what would their face look like if they opened a bankruptcy notice on your account? Would the creditor react with shock? Would the creditor cry? Would they laugh? What would the reaction of a creditor be if you filed bankruptcy on their account? Many of our Minnesota guests are surprised to hear that the vast majority of creditors are not shocked and have no reaction to you filing bankruptcy. Why?

You see, the big banks factor in the cost of bankruptcies to their business model. These major banks know as of January 1 of each year how many accounts will be filed against. This is no surprise to these big banks. It is just a cost of doing business. Now I am not saying that a private creditor may not have a poor reaction to your bankruptcy filing. If your business poured concrete for little old lady and the way the concrete was poured has caused water to rush into her home, she may have a negative reaction to your bankruptcy case filing wherein you are saying that you will not fix the problem.

But as to major medical providers or big banks, bankruptcy filings are just a cost of doing business and nothing more. They don’t get mad when they get your bankruptcy filing and they don’t cry when they get your bankruptcy filing. Instead, they process the bankruptcy notice along with the thousands of others they get each year without an ounce of emotion about it.

So if you are sitting at home and wondering what creditors think when you file bankruptcy, they don’t think much about it.

CONCLUSION

When the time is right, or when you are ready, reach out to Minnesota’s HIGHEST GOOGLE REVIEWED BANKRUPTCY LAW FIRM at www.kainscott.com. You will be so happy you did!

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