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Dissolution

What happens when I file Chapter 7 Bankruptcy and I own a business?

What happens when I file Chapter 7 Bankruptcy and I own a business?

If you own a business and need to file for Chapter 7 bankruptcy, it is important to understand the implications for your business and your personal finances. In a Chapter 7 bankruptcy, the business's assets will be sold and the proceeds will be used to pay off its creditors. After the bankruptcy is complete, the business will be dissolved.