Bankruptcy Monitoring FAQ

What is the risk of bankruptcy?

One of the many risks that business owners face is that of a customer or vendor filing for bankruptcy. If a customer files for bankruptcy, a business becomes just another unsecured creidtor among many. If a vendor files for bankruptcy, expected materals may not materialize leaving the business scrambling to find other options.

The sooner you know about the bankruptcy filing of a customer or vendor, the sooner your business can react to minimize the loss or disruption.

Bankruptcy affects a lot of people and businesses

Each year, business bankruptcies in our database list over 750,000 creditors.

Relying on official court notification is slow and unreliable

Official bankruptcy court notification can take weeks. Notification only goes out to creditors listed with the original creditors list filed by the business, which is often incomplete. If you become a creditor after the initial filing, (such as if you invoice after the bankruptcy filing) you may not be notified at all.

If your vendor files for bankruptcy, you won't be notified at all!

How bankruptcy monitoring can help

The sooner you know, the better!

Bankruptcy monitoring can notify you of the bankruptcy filing of a business entity that you monitor within 24 business hours of a bankruptcy filing?

If it is your customer that files for bankruptcy, you can hold back any shipments and demand payment up front. If your vendor files for bankruptcy, you can react days or weeks sooner than you might otherwise to shore up your supply chain.

How bankruptcy monitoring works

Every day, we pull in all the most recent business bankruptcies. Each bankruptcy case includes either the EIN (if the business is an entity) or SSN (if the business does not have an entity but is doing business under a DBA) of the debtor.

To monitor your customers or vendors, you simply need to provide a list of EINs and SSNs for us to monitor. Every day, we compare the EINs and SSNs you'ved asked us to monitor against any new bankruptcy filings, and notify you if there is a match.

Monitoring is cheap!

We charge 2 cents per entity per day of monitoring, and no monthly subscription is required.

As an example, monitoring 50 EINs and SSNs against all new bankruptcy cases daily, will cost about $30 a month.

How to start bankruptcy monitoring

First, if you don't already have an account with us, or aren't currently a customer, sign up for a free account.

Next, go to the My Account section of our website.

Menu my account f9009b8017dcc57e7eeb30810bf1b00b3a1057fdfc0e4ec466a6fa1c2a853b59

Enable bankruptcy monitoring with the ENABLE EIN/SSN MONITORING button.

Monitoring tab f3ef8b23011609c17dc0b55712b0d74d793e953577031687b8556b29fbc5f16f

This opens up the monitoring tab so you can add EINs and SSNs to be monitored.

Monitoring tab open abc4fad935bf79bd21ec208aad6b74ced0cd22a24eb2aa6f81e59a347214da64

EIN / SSN numbers in the lists should be separated by a space, comma, or newline. Each time you submit the list, it entirely replaces the previous list, so make sure you include all the numbers you wish to monitor each time you submit.

If you still have questions

If you still have questions about our bankruptcy monitoring service, please contact us.