WHO CAN FILE FOR BANKRUPTCY?
Anyone can file for bankruptcy a married couple, a corporation, partnership, or any other business entity.
A bankruptcy case can be filed by any person, a married couple, a corporation, partnership, or any other business entity. Bankruptcy can also be filed by a business trust. Bankruptcy is not limited to people who have no assets, who have judgments against them, or who are behind on paying their bills. This is a common misperception, although most people who file for bankruptcy relief are in the midst of financial difficulties. The same is true of corporations, partnerships and other business entities. It is not necessary that they be out of business or in default to their creditors. Indeed, there are many strategic circumstances during which one might threaten or file a bankruptcy case before things are dire. One example is as a response to litigation or as a resolution of tax liabilities. Bankruptcy is only one of the tools in our firm’s “toolbox.” We specialize in helping individuals and businesses with financial problems. Please contact us if you have any questions about whether bank
