Bankruptcy

4 Comments to “Bankruptcy for Small Business Owners: How to File for Chapter 7”

1. 

   Ardeal

   2:03 am on June 10, 2010

   What I really liked about this book is that it offers advice on business bankruptcies in general, not just chapter 7. It has clear comparisons on when chapter 11 or 13 are the better choice, with corresponding eligibility and drawbacks. It also includes liability on a business owner’s house. It has 2010 updated information and (as it’s usual with NOLO publications) any new changes in law are reflected on the web-sites provided. Please note – this book is primarily geared towards bankruptcy for small business owners. NOLO also has a Bankruptcy Chapter 7 book for individuals, How to File for Chapter 7 Bankruptcy, so choose appropriately.
   Rating: 5 / 5
2. 

   palealien

   3:47 am on June 10, 2010

   If you are seriously reading this book, accept my sympathies. When I ordered it I too was on the brink, and reading through it has convinced me to try any other way I can to resolve my current financial situation. While with typical NOLO thoroughness,(with the unfortunate lack of the ubiquitous CD) it details every procedure, answers nearly every question and provides forms galore to help you proceed through this process yourself, should you choose. I still feel it is a course of action not to be taken lightly or without the help of an attorney, But you will also find the advice and examples presented in this book invaluable in understanding the process and help you by being far more better prepared when the time comes.
   
   Rating: 5 / 5
3. 

   Comp Expert

   4:41 am on June 10, 2010

   I used this book to familiar myself with the process of Chapter 7. Though I don’t have a small business right now (used to) I work on a daily basis with those who do and are facing financial problems surviving in this day and age of the economic crisis. Though I’ll never be giving out legal advice, I can at least brief someone who needs this info and tell them of this book.
   
   Rating: 4 / 5
4. 

   Bmommy

   6:47 am on June 10, 2010

   NOLO has been a reliable source of legal resource books for about 40 years, and they can save you thousands in legal fees. This book is no exception, and if you are a small business owner even considering bankruptcy, this book will help you evaluate your situation and determine which path to follow. Particularly helpful is is that it brings your personal financial situation into the picture, including what happens to your home if your business goes bankrupt.

   It is really helpful that all the necessary forms are included, in tear-out sheets, but the only negative for this otherwise-excellent book is that it does not come with a CD containing all the forms like many of the other NOLO books do. I usually like to have the forms in the book for reference, but also to have them on a CD so I can customize them, fill them out, and print them all ready to submit. Also, it is a pain to have to either hand-write or type on forms (who does that anymore? ) and I would much rather be able to fill out all the forms on the computer instead. Not including a CD with all the forms is why I gave it 4 stars instead of 5. But it is still an exceptional resource you can use to sort out your personal and business finances, find out how bankruptcy works, fill out the appropriate worksheets and prepare the necessary forms for filing. In addition, the Appendix includes information for individual state and federal exemptions.

   The assistance from this book doesn’t end there, though. It also details how to handle your case in court and then how to deal with the aftermath of bankruptcy.

   All in all, another reliable NOLO book, with up-to-date 2010 information and forms, and detailed legal information to assist you with the difficult, costly, and stressful process of bankruptcy.

   I would definitely recommend this book, even if you are dealing with an attorney already. That way you can educate yourself and understand the bankruptcy process, to better protect yourself, and what’s left of your money.
   Rating: 4 / 5