Personal Bankruptcy for the Self-Employed: Five Things to Know
If you are self-employed and your business is struggling during the coronavirus pandemic, you may be thinking about filing for bankruptcy . Indeed, the COVID-19 pandemic is making it extremely difficult for small businesses to remain in business, especially those that were struggling financially prior to the coronavirus outbreak. Yet it is important to keep in mind that complications can arise when you are filing for bankruptcy as a self-employed person. You should know that an experienced Oak Park bankruptcy lawyer can help you with your case today. In the meantime, the following are five things to know about bankruptcy for the self-employed. You Need to Know Whether You Want to File for Personal Bankruptcy, Bankruptcy for Your Business, or Both When you say you are self-employed and want to file for bankruptcy, it is important to know the answer to this question: Do you want to file for personal bankruptcy, business bankruptcy, or both? Depending upon the nature of your self-emplo...