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3min chapter
Beware of Platform Risk - How PeerStreet, a Real Estate Crowdfunding Firm, Went Bankrupt
Money For the Rest of Us
How to Mitigate Platform Risk
Pierce Street says that investors on the platform, the question is it's in their FAQ, when will I get my money back? And they say that the funds will only be returned by agreement of the bankruptcy court. Secured creditors are those that have a lean on a specific property. But a general unsecured creditor ranks lower. They're last in line to receive payment behind secured creditors and others that have priority claims such as the IRS.
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