Every business owner, from the “Mom & Pop” restaurant to the Franchise Owner has to wear many “hats”. The most important “hat” to wear is that of the Chief Financial Officer. Even if you are just a sole proprietor, you have to keep your finances
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Archives for Business Bankruptcy Topics
Entrepreneurs’ Common Money Mistakes to Avoid
Are you a contractor, builder, cabbie, realtor, mortgage broker, beautician, or barber? Do you run a restaurant or professional practice such as a dental, law or medical office. Then, you are an entrepreneur. That’s a fancy word, and, you are working for yourself, acting as
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Top 5 Financial Tips for Small Business Owners
By the time many small-business owners see me, they have exhausted any way to stay out of money trouble. But, life happens, and businesses can run into problems along the way. Small business owners may end up getting lawsuits, bill collectors calling, or tax problems.
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Guaranteed Business Loan and Business Fails–Is Bankruptcy an Option? Will I still be able to protect my House?
This question came in on AVVO.com, and is important. I see many business owners struggling with the same types of problems. You can see that the details are complicated, and this person definitely needs legal help to untangle it. I rephrased it for the Headline,
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Small Businesses: Top 5 Warning Signs of Financial Problems
When small business owners meet with me, they often are so deep into their problems that they didn’t see them sooner. Sometimes, a business owner is focused on keeping the business alive that they continue to run the business at a loss for several years
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As a corporation, do I need a lawyer to file a ” Challenge dischargeability of certain debts” in a chapter 7 bankruptcy case?
A person on Avvo.com asked a question of whether a corporation needs a lawyer to file a “challenge” to the dischargeability of certain debts: Here is my answer: A corporation is required to have an attorney represent it in court generally. You should contact a
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X – Executory Contracts and “Unexpired Leases”- in the Bankruptcy Alphabet
The letter X in the Bankruptcy Alphabet stands for Executory contracts. (I know, it’s a stretch, but how many words begin with X?). An executory contract in bankruptcy language refers to a contract that is signed, and valid, but has not been completed yet. The
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Bankruptcy Alphabet- L is for Lien
The next concept in the Bankruptcy Alphabet is Lien. What is a lien? Is it like “lean on me”? or a lean cut of beef? No, the legal term lien refers to a process that a debt collector can go through to be sure someone
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My business has lots of debt and loans, can just the business file for bankruptcy protection?
The answer to this question depends a lot on how you set up the business, and how you got financing for the business. Most small business owners set out to create their dream, to follow their passion, or just to be their own boss. If
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