Bankruptcy was a big topic in this year’s presidential campaign. With President-elect Trump previously filing for bankruptcy protection, the topic has probably never before received so much attention.
As much as I don’t want to admit it, I have personal experience with bankruptcy. A failed business, regardless of the reasons, can often leave you in a position where you have no other choice. While most of the advice I write about is on starting a business, I thought it would be a great time to talk about what to do when your business is failing. Keep in mind that being broke is not always a reason to close your business. In fact, that is why there are numerous options afforded to you as a debtor.