Bankruptcy

When you are struggling with the debts you owe for your small business, it can be hard to want to think about bankruptcy. You may only have ever seen small businesses go through bankruptcy when closing, but that’s not necessarily what has to happen to yours....

Debt issues can develop because of a car crash, a diagnosis with cancer, the loss of a job or even a failed business start-up. Those without the resources to address their mounting debts may eventually turn to bankruptcy for a discharge of unsecured personal debts....

Business bankruptcy can be an opportunity to reduce expenses and preserve the business from possible failure. It can also be a step in the process of closing the company and liquidating its assets. The company can temporarily halt collection activity and present a...

When your business has debts to handle and you’re not sure if you can make ends meet, it may seem like you’ll need to start cutting employee hours or lay some people off. If you want to keep your employees, you may have options that can help. If your company files for...

Companies sometimes go through hard times. Whether due to the economic downturn or other reasons, your company may be struggling and need bankruptcy to help it stay stable and profitable. Many business owners try to avoid bankruptcy because they worry about how it...

To many people, the word bankruptcy conjures images of people with no money and no resources. However, successful individuals can also find themselves dealing with unmanageable amounts of personal debt. In fact, successful professionals often need to maintain a higher...

When your business isn’t bringing in enough money to survive and keep its doors open, one of the options is for you to close your business and consider bankruptcy. Not all business owners want to stay open when their plans don’t work out, so it’s reasonable to...

When the budget doesn't balance anymore, your business may have to make big changes. Restructuring is a way for floundering companies to reduce their operating expenses. By eliminating redundant positions and streamlining the workforce, companies can potentially keep...

Running a small business was always challenging, but when the economy took a downturn in 2019 and 2020, you found it harder to make ends meet. Being in a position where you’re now starting to see an influx of customers but are drowning in overwhelming debt from trying...

The economy isn’t always as good as it should be, and that can mean that many people go through layoffs or struggle to find work. In those cases, people who once had excellent jobs or debt that was under control may find that it’s nearly impossible to keep up with...