1. Don’t leave out bank, checking, savings, brokerage, credit union accounts.
2. Don’t use your credit cards.
3. Don’t take credit cards cash advances.
4. Don’t use convenience checks.
5. Don’t make balance transfers.
6. Don’t pay debts to family.
7. Don’t pay debts to friends.
8. Don’t tell a creditor you intend to pay.
9. Don’t leave assets of any kind off of your paperwork.
10. Don’t fail to tell your attorney about your small business, sole proprietorship, partnership, LLC, LLP, LC, Corporation or hobby.
The Survival of Your Business: How Subchapter V Saves Your Business from Bankruptcy
In business, financial distress is an unfortunate reality that companies face. Downturns in the economy or unavoidable major expenses could suddenly push even the most resilient of companies to bankruptcy.
May 21, 2025
