Bankruptcy & Your Business
If you are an individual who owns a business whether it is a sole proprietorship, an LLC, a Corporation, or a partnership, you may think that you need to file a bankruptcy for your business, or you may want to get rid of your personal debt and protect your business from the bankruptcy. You will need to consult an experienced bankruptcy attorney and take the following into consideration:
- Are you interested in keeping your business open or are you looking to shut down your business?
- Did you personally guarantee the debts owed to your business?
- Is all of the money you used to start your business on personal credit cards or loans that are in your name personally?
- Does your business own real property?
- What are the assets your business owns?
- What are the debts? Are the debts secured to the collateral of the business?
- Do you have business tax debt? Payroll tax, B&O Tax debt, L & I?