Insurance department what is liquidation liquidation is similar to bankruptcy if pennsylvania insurance regulators decide an insurance company cant recover from its financial problems theyll ask the pennsylvania commonwealth court to order the company liquidated the companys insurance policies will continue to. Bankruptcy in pennsylvania what it is what to do and how to decide part of the what is bankruptcy series gives you what you need to know about what bankruptcy is how to file for bankruptcy and how to decide whether filing for bankruptcy in pennsylvania will improve you financial situation or eventually only make things worse. Bankruptcy in pennsylvania book read reviews from worlds largest community for readers. Bankruptcy in pennsylvania what it is what to do and how to decide part of the what is bankruptcy series gives you what you need to know about what bankruptcy is how to file for bankruptcy and how to decide whether filing for bankruptcy in pennsylvania will improve you financial situation or eventually only make things worse. 2 what can bankruptcy do for me bankruptcy may make it possible for you to eliminate the legal obligation to pay most or all of your debts this is called a discharge of debts it is designed to give you a fresh financial start see bankruptcy pennsylvania exemptions