Category Archives: FAQ

Can I file for bankruptcy if I’m a Sole Proprietor?

bankruptcy for small business

Many small businesses are run and operated by the business owner/sole proprietor. This is common for service oriented businesses like carpet cleaners, yoga instructors, handymen, etc. This type of small business usually doesn’t have a lot of valuable assets that can be possessed by the bankruptcy official to pay your creditors.  In this situation you […]

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Can I file for bankruptcy if my business is a Corporation or Limited Liability Company?

corporation bankruptcy

If you operate your business as a Corporation or a Limited Liability Company, the bankruptcy trustee will be able to liquidate your business, sell the actions, or sell the ownership of the business. You may be able to buy the business back, but if you need to borrow money from your friends or family this […]

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