Exit Strategies for Borrower in Bankrupcy

[Peter Halliday]

I’m wondering what the exit strategy is for a borrower on bankruptcy. I was reaching up to follow up with a seller I’d bought a note from. He asked me if I’d be open to a note in bankruptcy.

I realized that I don’t know much about the risks vs rewards. My loose understanding is that bankruptcy doesn’t erase your debt. Stretches out the time horizon.