If I Operate a Business and I Filed for Bankruptcy, Am I Required to Stop Business Operation?
If I operate a business and I filed for Bankruptcy, am I required to stop business operation? The answer depends on who is filing for bankruptcy. If the bankruptcy filer is a corporation, limited liability company, or partnership, it must stop business operation immediately upon filing Chapter 7 Bankruptcy. Corporation, limited liability company, and partnership cannot […]
What is the Best Thing About Bankruptcy?
What is the best thing about bankruptcy? The answer to this question will be different for different people. For some people, the best thing about bankruptcy is discharge of debts. Bankruptcy can be a huge relief if you have insurmountable credit card debts, medical bills, unsecured personal loans, deficiency from car repossession or foreclosures, guaranteed […]
Small Business and Chapter 7 & 13 Bankruptcy Overview
As the economy recovers, small businesses are still struggling under mounting debts incurred during the recession in Sacramento, Stockton, Fairfield, and Modesto, California. If your small business is a sole proprietorship, you might be able to save your business through Chapter 7 or 13 Bankruptcy. Under Chapter 7 Bankruptcy, you can wipe out your business […]