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Small Business Bankruptcy

Top 5 Accounting Pitfalls Every Small Business Should Avoid

Small Business Bankruptcy

My friend Rachel Hester is a Quickbooks Ninja!  She has helped straighten out my own books and I think she’s just great at what she does.  Today, she spoke to our group about the pitfalls that small business owners need to avoid or lest they land in my office seeking bankruptcy advice.  With her permission, […]

How Do I Avoid a Personal Bankruptcy as a Business Owner?

Small Business Bankruptcy

Operating a business is very rewarding, but can also lead to financial disaster and the pitfalls are waiting just around the corner.  I know you’re not thinking about bankruptcy when you first get excited about creating and building your business empire, but I think it should be foremost in your mind as it will guide […]

Bankruptcy Basics For The Sole Proprietor

Small Business Bankruptcy

STOP!  Before you even consider filing for bankruptcy as a small business owner, it’s important to understand how your business is structured, and whether you made any personal guarantees on any of the debts.  The U.S. Small Business Administration (“SBA”) wrote this great article on bankruptcy and the small business, which provides more detail on […]

Judicial Estoppel: Why You Should Disclose All Assets, Claims and Debts

Bankruptcy & Civil Litigation, Chapter 11, Chapter 13, Chapter 7, Small Business Bankruptcy

 Have you heard of Judicial Estoppel?  Well, you need to if someone owes you money and you’re thinking of suing while contemplating bankruptcy. The doctrine of Judicial Estoppel generally prevents a party from prevailing in one phase of a case on an argument and then relying on a contradictory argument to prevail in another phase. […]

How To Use Credit Wisely After Bankruptcy

Bankruptcy Law Overview, Chapter 13, Chapter 7, Medical Debt & Bankruptcy, Small Business Bankruptcy

I always tell my clients that your credit score only tells you one thing; how well you manage DEBT.  So, why would you want to go back into debt again after bankruptcy?  After all, don’t you just want to enjoy the feeling of financial freedom from debt for as long as possible?  My first inclination […]

Advantages of Bankruptcy when Closing a Business

Chapter 13, Chapter 7, Small Business Bankruptcy

When closing a small business, there are advantages to using Bankruptcy as a means to winding up your small business.  If you’re Going Out of Business and are looking for alternatives to Bankruptcy, or a more detailed discussion on bankruptcy advantages, then you must read Gordon Eng’s recent article in the Los Angeles Lawyer magazine of the […]