Can I Operate My Business In Chapter 7 Bankruptcy?
This is a very common question I get when clients come into my office. My answer is always “well maybe, maybe not, it depends.” Not the answer that they want but it is the truth. I then analyze their actual circumstances to be able to give them a better answer.
Here I will explain of the basic analysis I use.
Business in Chapter 7 Bankruptcy by Business Type:
If it is a Corporation:
If you own a corporation, it can continue to operate even if you file bankruptcy. (more…)