How will your personal bankruptcy affect your corporation?

Your corporation is considered a separate entity. Therefore, if you file personal bankruptcy it will not affect your corporation as a whole.  However, if your personal shares of the corporation are considered your personal assets, those shares could be liquidated as part of your assets, and the proceeds from the sale would be used to…

What happens to you if your business files bankruptcy?

Whether or not your business bankruptcy will affect you personally depends on the type of bankruptcy you file. If you file chapter 7, the shareholders of your corporation (including you) could lose your stock values if the stock shares are liquidated with the corporation assets. If you choose to file chapter 13 bankruptcy, the shares…

What are Catastrophic Injuries?

Catastrophic injuries can be physical, mental, and/or emotional in nature, and have an enormous effect on your life. They often require extensive and sometimes long-term medical treatment. These injuries usually have a permanent effect on the life of the person injured; however, some people affected with these injuries have a great recovery. There are other…