Well you have a small business, and you’re
considering filing a business bankruptcy. My name is Andy Forman, and I’m a consumer
and business bankruptcy lawyer in Tampa, Florida, and I help and assist small business in filing
bankruptcy reorganizations. One of the first things you’re going to need to do is hire
a lawyer. The Constitution allows individuals to file their own bankruptcy cases, but businesses
are required to have lawyers, otherwise they would be engaged in the unlawful practice
of law. In order to file a business bankruptcy, after you’ve retained counsel, you’re going
to need to gather information regarding the business, copies of tax returns, profit and
loss statements, ledgers, accounts receivable, a list of the assets and inventory, the names
and addresses of your creditors. This information will be given to your business bankruptcy
lawyer and he’ll prepare the petition and schedules that will be filed with the court.
About 30 days after your business files for bankruptcy, you’ll be examined by a trustee
who will make inquiry into your assets and your liabilities, your accounts receivable.
They’ll review your tax returns and your statements. In some cases, you’ll do a reorganizational
bankruptcy, but you’ll go over that with your lawyer, and he’ll work through that process.
My name is Andy Forman, good luck with your business bankruptcy.