When you started your business, did you have the dream of being your own boss? Did you quit your old job working for one boss, only to find out that you now worked for every single customer, supplier, and business contact?
Maybe you made some mistakes when you started. Maybe circumstances beyond your control caused problems with your bottom line. Let's face it, sometimes even the best small business operation can still run into trouble.
Even when your business is running well, you might still have trouble with your personal finances. Whatever the case, a personal bankruptcy can often be the best solution.
But I Thought it Had to Be a Business Bankruptcy?
Most business owners assume that if they file for bankruptcy, it has to be a business bankruptcy. They also assume that if their personal financial situation is in trouble, they can't file a personal bankruptcy without harming their business.
Both of these assumptions are incorrect. In reality, a personal bankruptcy is often the best way to solve business trouble, personal financial issues, or a combination of both.