If you are having major debt problems in your small business, then it is best that you address them immediately. many a times it happens that your business doesn't run successfully and you are unable to pay back the money to the debtors from whom you had borrowed initially. In such a case you should opt for bankruptcy. Depending upon the circumstances, there are three potential bankruptcy options that small businesses have. These are discussed in brief as follows. Chapter 7 Bankruptcy ...
So you're wondering whether you should file bankruptcy? People who rack up a bunch of debt sometimes ponder if it makes sense filing for chapter 7 bankruptcy to get rid of the debt. There are lots of reasons for which bankruptcy can make sense whether chapter 7 or chapter 13. But you need to realize that this decision does bring consequences, and it is also certainly not always the best option. Should I discharge my debts in bankruptcy? ...