Heading toward bancruptcy
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gerard
Apprentice
Joined: 12 Nov 2004
Posts: 5
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 Posted: 11/13/07 - 09:30 Post subject: |
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| We are small company and we are facing difficulties filing money from our customers and I think we won’t be able to pay off our employees and debts we have so I figured out that we might be heading toward bancroptcy. As far as I know it affects our company credit records and that is why we still hesitate to use that key as a solution for our business. I guess that we have to talk to bankruptcy lawyer first but how to manage it anyways. |
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diarmid
Apprentice
Joined: 13 Jan 2006
Posts: 4
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| Posted: 12/13/07 - 02:35 Post subject: |
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| Well, it seems like a rough times are coming to you and your employees. I am very sorry to hear that. Requirement for bancroptcy is the proof that your business is not able to pay off bills as they come due. And apparently you are able to provide that proof. It is a very complex law that provides protection to debtors and fair treatment to creditors and can be helpful for resolving a financial crisis. Filing for bancroptcy will not qualify for your future credit record or your company’s. I strongly recommend you to consult a bancroptcy lawyer. |
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