2 Types Of Commercial Bankruptcies
Businesses work hard to try and earn a profit. Unfortunately, some businesses can struggle to stay in the black, resulting in serious financial problems. Crippling debt and an inability to make payments to creditors and investors on time may prompt a business to file for bankruptcy. There are two options available to businesses hoping to use bankruptcy as a solution to their financial woes. These options are a Chapter 7 bankruptcy and a Chapter 11 bankruptcy.