Self-Employed Business Owners: How Chapter 7 Bankruptcy Can Help You Stay In Business
Due to the worsening economy, self-employed business owners facing a massive amount of debt have no place to turn. Filing for a Chapter 7 bankruptcy can help business owners save their home and other assets. It is important for business owners to be realistic about their financial situation before it’s too late. Business owners who file for Chapter 7 bankruptcy can get protection from existing debt, protect from lawsuits, foreclosures, seizures, bill collectors, judgment liens and tax liens.
With the assistance of an experienced bankruptcy attorney, business owners of an existing corporation might be able file personal bankruptcy and form a new corporation in order to stay in business. There are certain steps that must be taken to achieve that goal. Therefore, it’s important to have the assistance of a skilled bankruptcy attorney to help you get the most benefits under bankruptcy laws.