Bankruptcy auctions are a result of individuals filing for bankruptcy when they are unable to pay creditors. There are different kinds of bankruptcy depending on the type and amount of debt incurred, including liquidation, adjustments of debts, and reorganization. Liquidation bankruptcy requires the sale of assets to pay creditors, and this is where bankruptcy auction companies step in. The three best bankruptcy auction companies include 363 Bankruptcy Auctions, True Blue Auctions, and Erkelens & Olson Auction Company. Read on to discover more about bankruptcy auction companies.