If your small business has been moving through a financial crisis and you are struggling
with debt consolidation, you may wish to explore your options besides filing a bankruptcy. There are different types of bankruptcies that may be an option for those owning a small business. But the option typically known as Business Bankruptcy may not be the right option for you.
Bankruptcy options for small business.
The way your business has been organized is going to make a significant difference in how bankruptcy works. If your business is a sole proprietorship or a partnership, then your business is going to be considered as one and same legal entity with you. This means, your business bankruptcy can seriously impact your personal assets and credit standing.