Filing for bankruptcy is often a scary process for any type of person, especially for business owners that are filing a business bankruptcy. Many business owners wonder how filing a business bankruptcy will affect their personal credit history, and while there is no exact answer to this wondering thought there are a few principles that…
How Business Bankruptcy Affects the LLC Owner
The nuances of bankruptcy for corporations has changed drastically over the last five years. With the dramatic shift in the national and international markets, the U.S. government is more protective than ever over debts, taxation, and income. From a proprietorship to LLC’s, there are unique rules governing bankruptcy for all styles of companies. What Happens…
Small Business Bankruptcy Options
When the notion of bankruptcy first peers its ugly head through the door, your first action is to turn away and ignore it. The fact of the matter is that bankruptcies happen, even to some of the very best small business entrepreneurs. Given the society we live in today, it is a miracle when a…
Why Do You Need A Business Bankruptcy Lawyer?
Basic Overview In these difficult economic times, many businesses are filing for bankruptcy in order to consolidate resources and reduce or eliminate debt. Since declaring bankruptcy can be a difficult process, it makes sense to consult a business bankruptcy lawyer that specializes in debtor’s counsel. A bankruptcy lawyer helps the company to determine which type…
Chapter 11 vs. Chapter 13 Bankruptcy
Differences Between Chapter 11 and Chapter 13 Bankruptcy Chapter 13 and Chapter 11 bankruptcy have certain key similarities that can cause confusion for anyone who doesn’t specialize in bankruptcy. Who Can File for Chapter 11 and Chapter 13 Bankruptcy? Chapter 11 bankruptcy is available for businesses and individuals with a very large amount of debts and income. Filings are available…
