Yes you can. Many struggling small business owners will turn to bankruptcy to get business debts discharged, and sometimes, to minimize financial liability when closing down or liquidating a small business.
Further more, if more than fifty percent of your debt is tied to your business, you can file for chapter 7 without having to pass the means test. This means that you can get around the income requirements for chapter 7 and avoid a chapter 13 and the associated payment plan.
Showing posts with label business bankruptcy. Show all posts
Showing posts with label business bankruptcy. Show all posts
Tuesday, July 5, 2011
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