How to remove the balance of trade ...

If profits are falling and accumulated your debt, you can file for bankruptcy to pay your commercial loans or buy time to restructure your business. ... .A closer look at your options and a discussion with management consultants can help you, the best decision for you, then you begin the legal paperwork.Difficulty: ModerateInstructionsThings you need. Debts and income documentation1Find an attorney in your. .to support bankruptcy. ... .You should have experience in working for creditors and debtors in these cases, but there must be no financial relationship that creditors.2Meet a conflict of interest between you and your lawyer with your, consultants may result. Finance and Board to decide, and. .where to save the company. ... .If a debt reorganization of your company and internal changes in the company allows you to pay your creditors on time, consider filing for Chapter 11 ... .Apply for Chapter 7 bankruptcy if your financial situation is in ruins, but knows that it's probably the end of commercial venture.3File the bankruptcy petition with the competent court. ... .Make sure that all documents lists of your creditors include amounts owing to them and your net income business.4Plan the possibility that you will not be released completely from your credit if you are filing. Chapter 7 ... .Their lawyers will see in the net value of the debt both secured and unsecured, and watch the value of your business assets. ... .If your lawyers the opportunity to go to court after your personal belongings to see your debt for small businesses cover, you must absolutely have to protect and prepare a legal defense assets.5Work a map of debt management. When you are signed Chapter .11. .bankrupt. ... .Demonstrate how to change your business and how you can pay to each of your creditors. ... .must please note the plans to repay their loans in about 5 years and must be filed within 120 days of filing for bankruptcy ....