Who Pays for Bankruptcies?

Written by True Tamplin, BSc, CEPF®

Reviewed by Editorial Team

Updated on March 08, 2023

Bankruptcies are paid for by the person filing bankruptcy. The court fees and cost of an attorney are all required to be paid by the filer, as are any non-dischargeable debts that bankruptcy cannot clear.

Discharged debts are not paid by anyone; they are absorbed as losses by the creditors.

Who Pays for Bankruptcies? FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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