Every business goes through its ups and downs. Most times you can recover, but sometimes you can’t. There can come a time when you can no longer meet your monthly obligations and you have no other way out, so the worst case scenario of filing for bankruptcy is something you must consider.
If you are a business owner, you have three possible bankruptcy options, each with its own set of pros and cons.
Chapter 7 bankruptcyChapter 7 is considered a liquidation bankruptcy in which some or all of the business assets are sold to satisfy debts. However, a few
