What Is The Difference Between Bankruptcy And Bankruptcy Protection That I Hear In The News Recently?

Posted by Stephen Cline on January 14th, 2010

In recent news, companies could be forced to Bankruptcy. Is this the same as “companies can be forced into Bankruptcy Protection”?
I thought Bankruptcy protection is “PROTECTION” against Bankruptcy?

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This entry was posted on Thursday, January 14th, 2010 at 11:25 pm and is filed under Bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “What Is The Difference Between Bankruptcy And Bankruptcy Protection That I Hear In The News Recently?”

  1. Fuzzy Bunny
    January 15th, 2010

    They are the same thing. Bankruptcy protection is basically a term used because once you file for bankruptcy, your creditors are not allowed to contact you or try to collect anymore.
    Please consult a bankruptcy attorney for more clarification. All attorneys usually give a free consult. Good luck.

  2. BlazerFa
    January 15th, 2010

    Bankruptcy protection also usually refers to a type of bankruptcy where the company is protected from creditors for a period of time.
    Bankruptcy liquidation is where the company is dismantled and assets distributed to the creditors.

  3. alma p
    January 15th, 2010

    ???

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