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When you decide to file for bankruptcy to avoid further debt or reorganize your business, you are required to inform your employees, which will likely cause specific concerns. It's important to understand the best methods to share this news with your employees and to...
Sometimes when business owners are going through bankruptcy, they end up making errors that can affect the outcome of the filing. Business owners, particularly small to midsized businesses where the owners are often the operators, take the financial failures of the...
Filing for bankruptcy is one of the options that businesses can pursue when struggling to meet their financial obligations. It can provide an avenue for companies to liquidate their assets and pay creditors or reorganize the business to allow them to pay off these...
If your LLC fails, you may choose to file for bankruptcy. While this offers some level of protection, an LLC bankruptcy filing only protects personal assets against creditors, meaning business assets are not immune to liability. It's important to understand which...
In Florida, an LLC or partnership can be forced to dissolve or reorganize if one partner files for bankruptcy. However, the court will work with the remaining partner to ensure that the business continues to run smoothly while the bankrupt partner works their way out...
Chapter 7 bankruptcy is a way for many businesses to get a "fresh start," but your plan can be dismissed by the court if the reason behind your filing doesn't meet the standards set forth by the courts. It's important to know what can cause your chapter 7 bankruptcy...
Running your own small to medium-sized business is no easy task. Success is a matter of attracting a dedicated customer base while navigating state and local laws. Being an entrepreneur means embracing these complexities while finding ways to remain solvent no matter...
Almost every consumer bankruptcy case has a bankruptcy trustee or an administrator with different roles and obligations. The court usually appoints the trustee, who plays a significant role in overseeing the debtor's bankruptcy estate in a bankruptcy case. According...
Chapter 7 bankruptcy is an important tool for people facing insurmountable debt. When the monthly costs and expenses exceed the monthly income, when collectors are calling regularly and when you are trying every month to figure out which bills not to pay in order to...
When many people start a business, they don't want to have personal liability for the company's debts or lawsuits. An LLC or corporation prevents creditors or those injured by defective products from bringing claims against you, your assets or your future income....