About Me

bankruptcy for failing businesses

My wife and I made the decision to open a residential cleaning business. We needed enough money to get the equipment, do a bit of advertising and get the licensing and insurance to protect ourselves and our customers. For about two years, things went very well, but then, things took a terrible spin for the worst after we hired a few employees to help us with the workload. Since then, we have gone bankrupt and have gone back to working full time jobs. If you are struggling with your business and considering bankruptcy, this blog can give you some answers to the many questions that you have.

bankruptcy for failing businesses

2021

Questions You Should Ask Before Declaring Bankruptcy

Most people view bankruptcy as if it's the end of the world. Everyone typically wants to avoid bankruptcy until there is no other option. Surprisingly, bankruptcy is not always a bad thing as most people view it. You can use it as an opportunity to better yourself financially. All in all, you should not hurry to declare bankruptcy before you think about the aftermath. Compiled are a couple of questions you might want to discuss with your bankruptcy attorney.