Posted by Zachary Stones | Posted on 22-03-2011
Home based businesses have gained popularity during the financial meltdown that started exactly two years ago. The rising trend of unemployment coupled with a series of financial obligations gave rise to the necessity of having alternate sources of income. The vicious cycle of debts which the citizens had to unwind could only be done by paying large fees to the debt settlement companies. At the same time, they had also to cope with the absence of a regular paycheck and the outcome was quite disastrous. Numerous citizens were having a serious dearth of funds to cover their living expenses. Under such circumstances, a home based business seemed to be the right option for the citizens. Read more…
Posted by Dakota Bonnor | Posted on 09-01-2011
A fact that surprises many people is that almost 9 out of 10 new businesses end up failing. What happens to a business when it runs out of money? Chapter 11 is the chapter of the United States bankruptcy code that explains what happens in this situation. Chapter 11 and business bankruptcy refer to when a corporation is unable to pay money that it is owed, and therefore is restructured. According to chapter 11 and business bankruptcy regulations, the owner or owners of the business are able to remain in control, but the court oversees a restructuring of the business so that it can pay off its creditors in the future.
A famous example of chapter 11 and business bankruptcy would be a well-known figure in most business circles, Donald Trump.
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Posted by Dakota Bonnor | Posted on 12-08-2010
Business Information: Will I lose my business if I file for a Chapter 7?
Remember, chapter 7 bankruptcy is also known as “liquidation.” Any assets that you own and/or property which is under your name is subject to be liquidated if the value of those assets/property exceeds the exemption limits. This is why it is important to determine whether your business assets are considered the assets of a separate entity (like a corporation) or the assets of yourself, as an individual (like a sole proprietorship).
Business Information: Will I lose my business if I file for a Chapter 13?
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