Protecting yourself when it’s time to throw in the towel

File for Bankruptcy Relief

Your business is struggling. You’re working countless hours and facing unmanageable debt. You’re ready to throw in the towel but you’re concerned about personal damage control. How can you shut down your business without being pulled down with it? Let me assure you, it can be done. While your situation seems bleak on the surface, you have bankruptcy options. You can file a no-asset chapter 7 case; You can file chapter 7 and liquidate non-exempt assets; or You can file chapter 13 and enter into a plan to repay your creditors. 1. Filing a no-asset chapter 7 for a fast …

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