Filing bankruptcy while self-employed
Filing for bankruptcy can be an effective way to get back on track with your finances, but it is important to understand the differences when filing while self-employed. Self-employment comes with unique considerations that must be taken into account when filing bankruptcy and having a plan in place will help ensure the process goes as smoothly as possible.
When self-employed individuals file for bankruptcy, they must first determine which chapter is right for their situation. Chapters 7 or 13 are typically used by those who are self-employed due to their different criteria and requirements. It is crucial to consult a lawyer who has experience dealing with bankruptcies involving the self-employed in order to make sure you choose the right chapter and understand how your assets will be affected.
The Law Offices of Omar Zambrano has helped thousands of the people and businesses in the past to get out of debt and start over.
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