Getting Started: Bankruptcy for Small Business
Getting Started: Bankruptcy for Small Business
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Is Bankruptcy a Good Option for Struggling Small Businesses
Each bankruptcy chapter offers unique benefits, and understanding these dynamics will help you choose the best solution for your small business needs. Or, you might find the better choice is filing an individual bankruptcy. Learn why.
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When You Might Be Personally Liable for Corporate Debt
If you are personally liable for some or all of your business debts, you should consider filing a personal rather than a business bankruptcy. Learn why.
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Will You Have to Close Your Business if You File for Personal Bankruptcy?
The Chapter 7 trustee won't automatically close the business and inventory its assets in Chapter 7. It will often depend on whether the trustee can sell business property and whether you have liability insurance.
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Chapter 11 Bankruptcy vs Chapter 13 Bankruptcy
Both Chapter 11 and Chapter 13 bankruptcy are reorganization chapters that require debt repayment over time. While Chapter 11 bankruptcy is primarily filed by businesses, it's also a choice for individuals who don't qualify for Chapter 13.
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The Differences Between Personal and Corporate Bankruptcy
Bankruptcy is a common tool used by both individuals and businesses. However, personal and business bankruptcies are not the same things and have different rules for the same chapters.
Listen to the Podcasts on Business Bankruptcy
Listen to the Podcasts on Business Bankruptcy
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Small Business Bankruptcy: Part 1
Part one of a two part series on Bankruptcy for Small Business Owners
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Small Business Bankruptcy: Part 2
Part two of a two part series on Bankruptcy for Small Business Owners
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What Is a Plan of Reorganization in Chapter 11 Bankruptcy?
Chapter 11 bankruptcy can be a good option for debtors who want to reorganize their debt and keep their assets. A key part of any Chapter 11 case is the debtor’s reorganization plan, which outlines how the debtor will repay creditors.
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Chapter 7 Bankruptcy for Partnerships
Depending on the type of partnership and the value of the partnership assets, filing for Chapter 7 is often not a good solution for the partners. Learn the predominant reasons why Chapter 7 is often more harmful than helpful to partnerships.
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Chapter 7 Bankruptcy for Corporations and LLCs
Filing for business bankruptcy means someone else steps in to liquidate your business’s assets and settle its debts (in this case, the bankruptcy trustee).
