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ALL You Need to Know About Bankruptcy | Bankruptcy Chapter 7 and 13 Comparison and More It will probably depend on the structure of the business. There may be consequences for business management, partners or shareholders, and assets.
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Generally, no, not if the business itself is placed in Chapter 7 because a company isn't entitled to protect itself or its assets with exemptions. How to File Bankruptcy Online Without an Attorney (10 steps) When we file Chapter 7, we submit a budget to the bankruptcy court which will show that your income and expenses cancel out,
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