This type of bankruptcy may be considered when business owner is really tired of dragging financially struggling entity forward and there are too many debts and amounts owed to creditors to manage. When choosing this option, unlike in personal bankruptcy, there is no corporate assets or income exemptions. Depending on business performance in near future , type of financial obligations to creditors, degree of personal guarantees, this could be the most optimal path to getting out of the financial “hole”.
We will work with you to explore all the other debt relief plans before stopping here!
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