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What Happens When You File for Business Bankruptcy?

Fundera

What Is Business Bankruptcy? If you’re struggling to pay off business debts, filing for business bankruptcy might help. Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation.

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What Happens When a Business Has to File for Bankruptcy

Fundera

Let’s review the different types of bankruptcy, and what happens when your business has to file Chapter 11. Small Business Bankruptcy Filing Options. Small businesses have three basic options for filing for bankruptcy: Chapter 7, Chapter 13, and Chapter 11.

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How to Find and Choose a Business Bankruptcy Lawyer in 5 Steps

Fundera

How to Find and Choose a Business Bankruptcy Lawyer in 5 Steps. Evaluate your business’s financial situation and goals. Recognize the red flags of bankruptcy mills. Source bankruptcy lawyers through referrals, bar associations, and legal directories. Compare bankruptcy lawyers by asking the right questions.

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Getting a Business Loan After Bankruptcy

Lendio

Whether you’ve gone through a personal or business bankruptcy, lenders will consider past bankruptcies when making a loan decision. This post will cover common questions about bankruptcy and how it impacts your loan application. Can you get a business loan after bankruptcy?

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How to Recover From Business Credit Card Debt

Fundera

Filing for bankruptcy should be—and is—a last-resort option. But if you’ve run out of alternatives to recover from business credit card debt, you should know what’s involved in filing for business bankruptcy or personal bankruptcy. Rebuild Your Credit to Fully Recover From Business Credit Card Debt.

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Divestiture Definition: What Is Divestiture in Business?

Fundera

No one wants to deal with a small business bankruptcy , but unfortunately these things happen. When they do, you’ll likely have to sell off major components of your business (or, as is even more likely the case, the entirety of the business’s holdings, assets, and property). The Benefits of Divestiture.

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5 Signs You Need to File for Bankruptcy

Fundera

If you suspect that your business might need to file for bankruptcy, read on to consider whether your situation fits all of the below criteria. If you’ve signed a personal guarantee on any financing, you as the business owner can and will be held personally liable for the repayment of that loan regardless of your business structure.