Book details

Bankruptcy for Small Business Owners - How to File for Chapter 7

eBook, Published by NOLO (19 March 2010)

£24.79

Book description

Wipe out business debts and get a fresh start!

Small businesses are failing at record rates, and business bankruptcies are on the rise; more than 43,000 were filed in 2008-up 53% over the previous year.

Bankruptcy for Small Business Owners helps small businesses assess the financial condition of their business, determine whether they should declare bankruptcy, and offers step-by-step instructions for completing all of the bankruptcy forms and filing them in court. It covers:

what business debt and assets (if any) would be impacted by bankruptcy

bankruptcy options: Chapter 7, Chapter 13 and Chapter 11, and the eligibility factors and downsides of each

"look back" requirements (periods of time during which personal or business actions have created impediments to filing for bankruptcy)

automatic stays

valuation of business assets (including good will & intellectual property) and shares

exemptions

what happens when there is personal liability for a house

and more.

For businesses that are under water and don't want to spend money on a lawyer they can't afford, this book provides all the information they need to handle their own bankruptcy filing. Stephen R. Elias is an attorney and former associate publisher at Nolo, as well as current President of the National Bankruptcy Law Project. He is the author of many Nolo books, including recently The New Bankruptcy. Other titles include Special Needs Trusts and How to File for Chapter 7 Bankruptcy. He is also one of the original authors/designers of Nolo's bestselling WillMaker software. Steve holds a law degree from Hastings College of Law and was a practicing attorney in California, New York and Vermont before joining Nolo. He has been featured in such major media as The New York Times, The Wall Street Journal, Newsweek, Good Morning America, 20/20, Money magazine, and more. Bethany K. Laurence joined Nolo as a legal editor in 1997. She holds a law degree from University of California, Hastings College of the Law, a B. A. degree from Boston University (Phi Beta Kappa, magna cum laude), and is a member of the California State Bar. Laurence has combined her legal and financial expertise to edit many Nolo small business books over the years. She is the co-author of Business Buyout Agreements: A Step-by-Step Guide for Co-Owners. Before joining Nolo, Laurence worked as an electronic product developer at CCH, Inc. (a division of Wolters Klewer, Inc.), where she created legal online and CD-ROM products. Over the last decade she has been active on the board of directors of several local environmental and educational nonprofit organizations.

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