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You hate to admit it, but your business has been tanking for a while. This past year appeared to be the final nails in the coffin. But what bothers you the most is your employees. Can you continue to pay them during your bankruptcy process? Much of your employees’...
If you have to close your small business, the goal should be to try to close it without any remaining debt. Unfortunately, the reality is that closing without major debt isn’t always possible. If you owe large debts, then bankruptcy may be the right solution to...
2020 has been a tough year, and it is safe to say that many businesses have struggled with a failing economy. If your business has created debts but is not bringing in the income you expected, then you may be in a position where you are looking into bankruptcy. As a...
You started your company with enthusiasm and excitement, sure that you could make it work. Though you and your employees worked hard, things just didn’t click. Maybe the reason was out of your hands, like an economic recession or changes in competition. Regardless,...
You may assume that economic issues across the country have forced more businesses to close their doors. However, reports indicate that this hasn’t happened and that bankruptcy on the whole is down. For instance, the U.S. courts reported that there were 22,482...
Boy Scouts of American (BSOA) has been rocked by controversy in recent years for the cover-ups regarding sexual abuse detailed in secret records going back to 1944. With the deadline for victims to file a claim approaching, the organization looks like it will surpass...
If investing in commercial real estate, you need to be sure you are spending your money wisely. With the market fluctuating considerably due to the year’s events, determining what a Jacksonville property is worth can be challenging. While there are some great bargains...
One of the things you’ve probably heard about bankruptcy is that it can have a negative impact on your credit score. That can be true, depending on how low your score is due to missed payments and the level of your debt. However, one thing to remember is that your...
One of the primary concerns of some business owners when they need to file for bankruptcy is what will happen to the employees. Sometimes these employees have been with them for years and have helped build the company. They might be worried that the employees won’t...
Henry Ford said, “Failure is simply the opportunity to begin again, this time more intelligently.” In order to begin again, most companies will need a little financial forgiveness. Filing for Chapter 11 bankruptcy could be the difference between survival or failure....