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Broker Went Out of Business or Filed Bankruptcy: How Carriers Can Still Get Paid

Not legal advice. This is a document-preparation tool, not a law firm. Results aren't guaranteed. Verify all info with FMCSA and consult an attorney for legal questions.

A broker that stops answering the phone, a website that goes dark, an FMCSA record that shows revoked authority. If a broker owes you money and has gone under, you still have options, but timing matters more than ever.

Check the broker first. It's free.

See authority status, authority age, BMC-84/85 on file, and the surety name from FMCSA records.

Broker owes you? Build a demand letter + bond-claim packet for

9.

First, confirm what happened

Check the broker's MC on our free Broker Check or the FMCSA Licensing & Insurance (L&I) system. Look at broker authority status, any pending revocation, and the insurance history for the BMC-84 or BMC-85. Note the surety or trustee that was on file when you hauled your load. Under 49 CFR 387.307, when a bond is replaced, the old surety still covers obligations from contracts made before the replacement took effect.

The 60-day window after a financial failure notice

Rules effective January 16, 2026 changed how broker failures are handled (49 CFR 387.307). In short:

If your broker is in trouble, watch for that notice and get your claim in early. The $75,000 may be shared by many carriers.

Bankruptcy is different

The rule says the immediate-suspension notice requirements don't apply when a broker has filed under Title 11 (the Bankruptcy Code), and that a bankruptcy filing does not by itself count as "financial failure or insolvency" under this section (49 CFR 387.307). Bankruptcy brings its own rules, including an automatic stay on many collection efforts against the debtor. If your broker has filed, talk to an attorney before sending demands or filing claims, and look for the court's notice about filing a proof of claim.

Steps to take now

  1. Gather documents: rate con, BOL/POD, invoice, proof of sending, all messages.
  2. Identify the right surety or trustee for the date of your load. See how to find a broker's surety.
  3. Contact the surety's claims department and ask how and where to file, and what deadlines apply.
  4. File a complete claim promptly. See the step-by-step guide.
  5. If there's a bankruptcy, get legal advice and watch for the bankruptcy court's deadlines.
  6. File an FMCSA complaint through the FMCSA Complaint Center so the record reflects what happened.

If there was no bond

A company brokering without registration and financial security violates 49 U.S.C. 14916 (unlawful brokerage), which makes those who knowingly allow it liable to the injured party for all valid claims, including individual officers and principals. Recovering that way usually means going to court. An attorney can tell you whether it's worth it.

Protect yourself before the next one

Brokers rarely fail without warning signs in the public record: pending revocation, bond cancellation notices, or a change of surety. Pro members can watch every broker they haul for and get an email when FMCSA data shows a bond cancellation, revocation, or pending change. See UnpaidLoad Pro.

Need letters now? Our $19 claim packet builds the demand letter, bond-claim letter, exhibit checklist, and timeline. Related: deadlines.

How to watch for an FMCSA Register notice

FMCSA publishes the FMCSA Register on its website, and under the current rule that's where notice of a broker's bond cancellation for financial failure appears (49 CFR 387.307). If a broker you're owed by is in trouble, check it regularly, and check the broker's insurance history in L&I for a cancellation. Pro members get an email when FMCSA data shows a bond removed or authority changed for any broker on their watchlist.

Common mistakes

What a strong claim includes

  1. Claim letter identifying the broker (principal), MC, bond or trust number, you as claimant, and the amount.
  2. Rate confirmation.
  3. BOL and signed POD.
  4. Invoice and proof you sent it.
  5. Demand letter and proof you sent it, if you sent one.
  6. Any correspondence showing the broker acknowledged the debt or promised to pay.

Ask the surety to confirm receipt in writing, and keep a log of every contact.

Sources

FAQ

How long do I have to file a bond claim if a broker fails?
Under 49 CFR 387.307(f), after FMCSA publicly notes a broker's financial failure in the FMCSA Register, the surety or trustee must accept claims for 60 calendar days. Other deadlines may also apply.
Does bankruptcy stop me from filing a bond claim?
Bankruptcy can affect your options. The regulation treats a bankruptcy filing differently from "financial failure." Ask a bankruptcy or transportation attorney before acting.
Check the broker first. It's free.

See authority status, authority age, BMC-84/85 on file, and the surety name from FMCSA records.

Broker owes you? Build a demand letter + bond-claim packet for $19.

More guides

Not legal advice. This is a document-preparation tool, not a law firm. Results aren't guaranteed. Verify all info with FMCSA and consult an attorney for legal questions.