Chapter 7 bankruptcy is one option when you need to declare bankruptcy for your business. You may hear people refer to it as liquidation because that is what happens when you file this chapter. Before you file, it is essential that you understand what filing Chapter 7...
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Business & Commercial Bankruptcy
Avoiding common financial pitfalls in your business
Operating a successful business in New Jersey requires you to make strategic financial decisions. Oversights, miscommunication and inadequate preparation can all have a detrimental impact on your organization's financial security. When you know how to avoid the common...
How does Chapter 11 bankruptcy affect your business?
Chapter 11 bankruptcy is a debt relief option for business owners. Commonly known as "reorganization bankruptcy," Chapter 11 holds off creditors while you work toward getting your business to a more financially healthy state. There is often a negative connotation with...
What are the bankruptcy options for businesses?
Filing bankruptcy as a business differs from filing as an individual. You have different chapters you may file that target the needs of a business. Nav explains what chapter of bankruptcy you choose depends a lot on the type of business structure you have. Chapter 7...
Your small business and bankruptcy
If you own a small business in New Jersey, you may know firsthand the challenges of money management. Financial decisions require a lot of forethought and careful planning to prevent missteps. When overwhelming debt threatens your operations, you may resort to...
How should you renegotiate debt for your business?
Operating a business can affect your personal finances, especially if you put a lot of your savings into starting your company. If you run out of money or cannot pay back creditors, you may need to file for bankruptcy protection. As part of the process, you may have...
The Small Business Reorganization Act makes Chapter 11 easier
Although filing Chapter 11 bankruptcy is a positive move that allows floundering companies to reorganize and get back on their feet, it is also a complex move that can be expensive to get through. Some struggling small businesses may not have the resources to get...
What are your options for business bankruptcy?
While you wish for another option, you have no choice but to file for business bankruptcy. Do you know which chapter fits your situation? Fundera breaks down three bankruptcy options for companies. Learn how to put yourself on the path to success after filing. Chapter...
Commercial bankruptcy and the automatic stay
One of the most comforting aspects of filing for bankruptcy is the reassurance that debtors can get some relief from incessant requests for payment from debt collectors. This newfound freedom can give them the space and flexibility to decide what they want for the...
What to consider before filing for business bankruptcy
If your business is facing financial problems and your creditors are harassing you for outstanding payments, you might save your business from ruin by filing for bankruptcy. Many people think of bankruptcy as the end of a business, but in reality many companies emerge...
