Bankruptcy

Even though your business is facing bankruptcy, you hope to rebuild. You have a plan in place, and you expect to come out of the process better than before. A preference claim from the trustee in your bankruptcy case could pose a serious issue, however. Understanding...

You take on a lot of risk when you start a business. You often have to leave your job or cut back your efforts at career development to focus on the new company. You invest your time and money in something that may never repay your efforts. Even your personal...

Filing for bankruptcy for your business should not be controversial. You make many financial decisions every day, using the tools that have been provided for you. Bankruptcy is one such tool, and you can use it if it will help your company in the future. Businesses...

You started your own home remodeling company a few years back. It’s now fallen on financial hard times. You don’t want to close your doors, but you do want to use bankruptcy to restructure your debt. You’ve learned a lot and identified early financial mistakes, and...

If you need to file for bankruptcy for your business, the goal may be to discharge your debts and keep the business afloat. In some circumstances, you may file for bankruptcy while dissolving or closing the business to resolve its outstanding debts. As the owner or...

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...

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...

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...