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What Happens To Your Business in Bankruptcy

By Cathy Moran

business in bankruptcy

Before you file bankruptcy, you need to know what happens to your business in your bankruptcy. And like so many things, there’s no single, simple answer. Two factors drive the fate of the business. One is whether the business is itself a legal entity, like a corporation or LLC. The second is what chapter you […]

Filed Under: Featured, Small business Tagged With: 2025, business, corporation, llc

Your Business Partnership Needs A Prenup

By Cathy Moran

business divorce

Financial partnerships are at least as challenging as marriages.  And business deals don’t have love to smooth the rough spots in the relationship. The traditional marriage service ends with the charge that what God has joined together,  let no man put asunder. That’s great with love, but not so great with money. Something will likely asunder […]

Filed Under: Consumer Rights, Small business Tagged With: co owners, investor, joint venture, partnership

Personal Assets Can Be At Risk For Your Business Debts

By Cathy Moran

business debts

Business debt can bleed over into an entrepreneur’s personal assets.  Hearing me say that, my client was dumbfounded. He was aghast that the generous equity in the home he and his wife owned was at risk when his corporate business folded. That was not because the shareholder is liable for the corporation’s debts.  A properly […]

Filed Under: Consumer Rights, Small business, True Stories Tagged With: 2017

When Bankrupting The Business Doesn’t Protect The Owner

By Cathy Moran

“I want to file bankruptcy for my business, but I don’t need a personal bankruptcy”. I’ve had 2 such calls to my law office in just the last week. And in each case, bankrupting the business corporation will not solve the debt situation. Here’s why. The underlying problem is that the individual owner is personally […]

Filed Under: Featured, Small business Tagged With: 2024, business bankruptcy, going out of business, owner liability

Can You Rescue Your Business With Chapter 13

By Cathy Moran

rescue business

Small business owners who are sole proprietors can enlist the power of bankruptcy’s Chapter 13 to rescue their business at a price they can afford. Everyone thinks of Chapter 11 as the “keep the business and ditch the debt” form of bankruptcy. But traditional Chapter 11 is cumbersome and just flat out too expensive for […]

Filed Under: Featured, Small business Tagged With: 2021, business, reorganization

Step By Step Guide To Business Shutdown

By Cathy Moran

business shutdown

There’s lots written on how to start a business. Not so much about business shutdown. Even pre-pandemic, half of all new businesses fail within 5 years. Post pandemic, the pain is so much greater. So let’s walk through how to manage a business shutdown, tie up loose ends, and minimize problems that may follow you […]

Filed Under: Featured, Small business Tagged With: 2021, business closure, closing up, going out of business

SBA Loans Collectible Long Past Business Failure

By Cathy Moran

SBA collection

The SBA has eagle eyes and sharp talons when it comes to collecting from guarantors of business loans. SBA collection rights are ruthless, efficient, and ageless. So I learned when a client consulted me about a business that had failed 12 years ago. Yet the SBA had never sued him, nor had it filed a […]

Filed Under: Consumer Rights, Small business Tagged With: 2020, business debt, SBA

When You Can’t Pay The EIDL Loan

By Cathy Moran

EDIL loan due

The COVID-era EIDL loans are coming due. But just because the pandemic is over doesn’t mean that business has returned to normal. Prepandemic, normal may have been difficult too. If yours is one of the many businesses can’t bear the additional stress of repaying EIDL loans, here’s what you need to know. What are EIDL […]

Filed Under: Featured, Small business Tagged With: 2023, COVID, EIDL, SBA

Considering Going Out Of Business?

By Cathy Moran

ailing business

When the virus shutdown is over, ailing businesses must consider whether to continue.

Filed Under: Featured, Small business Tagged With: 2020, covid-19

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Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

Bankruptcy Alphabet: F is for First

In my Bankruptcy Alphabet, F is for First meeting of creditors. Lots of rumors exist about the that meeting; it produces unwarranted anxiety that is avoidable if you understand what's up. Let's check it out. The first meeting of creditors, also called the 341 meeting, is often the only time a debtor has to appear … Read more

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