What is Bankruptcy Protection? Does it really protect you?

[Good-Person]

There are many individuals and companies that go bankrupt. This is something that many investors have experienced during the 2008 global financial crisis. In the year 2020, many people experienced the same thing. In many cases, many investors may opt to get bankruptcy protection. So, what is it and does it really help?

 

[Dice]

Bankruptcy protection is a legal process that can help individuals and businesses who are overwhelmed by debt. It's designed to provide some relief by stopping creditors from taking collection actions, like seizing assets or garnishing wages. While it can offer a fresh start, it doesn't necessarily protect you from all financial consequences.

 

[Kane]

We do not have a bankruptcy protection option here, if the company goes bankrupt, it will pay the big investors, and if you are one of them you might get your money, but if are a small investor and the company cannot pay back small in investor even after liquidating he company, you will lose money.