BUSINESS, MARKETING, and MONEY

Learn all you can about bankruptcy laws in New York before you begin to make a decision about filing for bankruptcy. Understand what the ramifications will be to your life and your business when filing for bankruptcy in New York.

No one starts a business thinking it will fail. Things, however, do change, and there may come a time when exercising your bankruptcy options in New York becomes the best course of action for yourself and your business. Before filing for bankruptcy, keep in mind the following:

1. Know what you’re going to do with your life and your business once the bankruptcy is complete. Set goals and have a plan ready for life after bankruptcy.
2. Understand how New York bankruptcy law is going to affect life going forward--from starting a new business to how it will affect your credit rating.
3. Analyze the decisions that were made that led to your bankruptcy filing. Take note so you won’t repeat the same mistakes again.