Business Bankruptcy

16 Oct Should My Business File for Chapter 7?

I frequently meet with clients who own a business that has financial problems. It may not be able to pay its bills as they come due, there may be an eviction threatened, or a lawsuit. These clients have done some homework, and usually start out our meeting by saying that they want to retain me to file Chapter 7 bankruptcy for their corporation or LLC. They are also surprised when I tell them that for most businesses, Chapter 7 makes absolutely no sense. Why?
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25 Jul Three Bankruptcy Traps for Small Businesses

Perhaps you're self-employed. Or maybeyouown a small corporation or LLC. Times are hard. Time to see a bankruptcy attorney. You might be surprisedto realize that thesetwo items are considered assets: accounts receivable and unbilled work in progress. A trustee can try to take these by telling...

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