Nov 15, 2021 | Bankruptcy, Business Debt
Clients are usually very concerned about what the filing of a bankruptcy will do to them in terms of publicity. For individuals, this concern is usually about having friends, neighbors, and relatives learning of their financial difficulties. But for businesses this...
Feb 24, 2021 | Business Debt, Debt Collection
Not too long ago, an attorney called me on the Lawyer-to-Lawyer directory*. He had recently obtained a judgment for his client against a Limited Liability Company (LLC). The amount of the judgment was $17,000, and he believed the LLC might not have much in the way of...
Feb 12, 2021 | Business Debt
Clients often ask me this question. They were instructed to operate their business as either a corporation or a limited liability company (LLC), and were led to believe that they would not have liability for the debts which the entity might incur. Photo by Matthias...
Aug 11, 2020 | Blog, Business Debt, Chapter 11 Bankruptcy
Being engaged in commercial or business activity may include simply dealing with business debts. So says a bankruptcy court in South Carolina. This ruling could be particularly important for many of the businesses that are not open due to stay-at-home...
Mar 17, 2017 | Blog, Business Debt, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Declaring Bankruptcy, Financial Problems, General Bankruptcy
One of the least asked questions startup entrepreneurs ask themselves is, “What will I do if the business has financial problems?” There are lots of seminars and courses that talk about business plans, marketing, operations, and accounts receivable management, but...
Dec 22, 2016 | Blog, Business Debt, Credit & Credit Scores, Creditors & Credit Cards, General Bankruptcy
I have not heard from the credit card company I owe for a long time. Should I still file bankruptcy? Probably not, although you should make sure that you could file a bankruptcy promptly if the need arises. I spoke with a client earlier this week whose only...
