Author Archives: Eric R. Rodriguez

The main reason most businesses file for a bankruptcy is because they either require more time to pay their debts or they desire to close up shop for a number of reasons (unprofitable products, impossible-to-repay debt). Businesses employ bankruptcy attorneys to take control of the bankruptcy process, which could fall either under Chapter 7 or Chapter 11. A Chapter 7 bankruptcy is a liquidation, while a Chapter 11 bankruptcy is referred to as business reorganization. When the entire business bankruptcy process is over, the business becomes free of debts. The following are among the business bankruptcy facts that you ought to know about: Continue reading →