The “Automatic Stay” in Chapter 7 vs. Chapter 13
Chapter 7 often protects you from creditors well enough. But if need be, Chapter 13 protects you longer.
Chapter 7 often protects you from creditors well enough. But if need be, Chapter 13 protects you longer.
If your business has failed or is about to, it does NOT likely need a bankruptcy. But YOU personally might.
Question #1 for cleaning up financially after a failed business: can the business file a bankruptcy without you? Question #2: should it?
It sure helps in understanding the two main bankruptcy options if you know the cast of characters in each one.