One of the first decisions made by a person is the organization of the business.  The form of organization affects tax, liability, license and other matters throughout the life of the business.  Traditionally, businesses are organized as a sole proprietorship, partnership, or corporation.  However, there are other newer forms of organization such as limited liability company, commonly known as an LLC.  Organizational mistakes remain throughout the life of the operation.

As the business continues, other matters arise such as contracts, licenses, etc.

Whether a sole proprietorship, partnership, incorporation or LLC, business matters also involve collection of bad debts, which is the other side of the credit policy coin.  Collections may take the form of foreclosure, claims for money, evictions, mechanic lien claims, etc.  the only way to avoid collection matters is to not sell goods or services on credit.

BANKRUPTCY:

Bankruptcy is caused by many uncontrollable events: illness and the resultant medical bills; economic depressions/recessions; loss of job; decline in salary or loss of employment benefits.  I am a debt relief agency, and I help people file for bankruptcy.

Bankruptcy affords people a fresh financial start.  However, bankruptcy is complicated, so it is best to have legal assistance as soon as financial problems are apparent.  There are possible solutions to financial problems other than bankruptcy, and it is best to explore all possible options.