Customer has gone bust what can I do?

Inevitably some businesses fail. When one of your customers goes bust it hurts.

There is little you can do except wait to hear the outcome. Once most formal insolvency processes are underway, you cannot start or continue any action to recover your debt.

The general outcome is that the debtor's assets are divided among its creditors and the insolvent debtor is released from the burden of its debts.

Types of insolvency

[return to claimant scenarios]