There are different types of bankruptcy available for people and businesses in a variety of different circumstances. An organization preparing for dissolution because the company has become unprofitable might file a Chapter 7 bankruptcy. There are other options...
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Year: 2024
What debts can be discharged in bankruptcy?
Filing for bankruptcy is a chance at a fresh financial start. As part of the process, certain debts are discharged so the person who’s filing can get rid of their obligations without struggling to pay them for any number of years. Anyone who’s considering this option...
What is the difference between business and personal bankruptcy?
You likely already know that bankruptcy is available for both individuals and businesses. However, can you differentiate between these two processes of eliminating debt? The obvious difference is that when a person files for bankruptcy, that is personal bankruptcy and...
What should business owners know about bankruptcy?
When businesses face financial hardships, bankruptcy often emerges as a viable option to either restructure debts or close a company in an orderly way. This is true for businesses of all types, including trucking companies, agricultural enterprises and others....