Many people dream of becoming a business owner and entrepreneurship, but bankruptcy has often gotten in the way. Many people make the mistake of believing that if they’ve filed for bankruptcy, they can’t start a business. They may be afraid that their business will go into bankruptcy too and things will be worse the second […]

Some businesses say they are “forced” to file bankruptcy or they “had no other choice.” However, in most cases, this is a voluntary bankruptcy filing. Learn more about voluntary bankruptcy and business bankruptcy forced by creditors. Voluntary Bankruptcy Even if a business does not want to file bankruptcy, the owner or the board of directors can decide that bankruptcy […]

There are no laws that will prevent you from starting a new business after you’ve filed bankruptcy. However, there are several things you need to keep in mind as you begin forming a company under the shadow of bankruptcy. Here’s what you should know. Be Prepared to Face Challenges Getting Credit Most new business owners […]

The universe of corporate bankruptcy law can be intimidating and complicated. Here are answers to some of your most pertinent questions about business bankruptcy. Q. What is Business Bankruptcy? A. When a business has monetary liabilities that exceed their assets or is unable to fulfill financial obligations, the company may need to file for bankruptcy protection. […]

The realization that your business may be going bankrupt is frightening. However, if you are seeing signs that your business is going under, it’s important to get the help you need as quickly as possible. Holding out hope that things will turn around or being in denial will only make it worse in the long run. […]

Running a business can be challenging, especially for individuals who aren’t great at accounting. However, keeping your business financially stable is arguably the most crucial thing you need to do for your business to grow and succeed. Many business owners focus on bringing in more and more new business, which is great, but if you aren’t managing […]

Financial problems within a business can lead to bankruptcy. Although bankruptcy can often provide adequate relief for struggling companies, learning how to avoid it whenever possible is also a worthwhile endeavor. Here are 5 financial problems businesses can face, and what you can do if your company is facing overwhelming debt. 1. No Budget Plan […]

If your business is struggling financially, you may be worried about whether or not you will be held personally liable for the debts of your business. The answer isn’t exactly clear — it largely depends on how you formed your business. Here’s what you need to know about owing business debt and how bankruptcy may […]

If your business is struggling with debt, can you file a Chapter 13 bankruptcy, or are you limited to other types of bankruptcy? Find out what your options are. Is Your Business a Separate Legal Entity? If your business was formed as a separate legal entity, you will not be able to file a Chapter […]

As of April 1, 2016, changes to the U.S. Bankruptcy Code, announced by the Judicial Conference of the United States in February, became active. Cases filed after this date are subject to the updated bankruptcy code. While the changes are minute overall, businesses who are planning to file bankruptcy may find themselves more affected by […]