The program for filing a case under Chapter xi bankruptcy is as follows. From here they will be able to choose if you will be able to go forward independently, if you should hire a individual lawyer or if legal aide can aid you. Chapter 11 reorganization will be able to include canceling liabilities for unsecured advances, union contract obligations, other operational contracts, and real estate leases. If you must, go back and review Lesson 2 where I cover how to keep safe you and your family during this risky time for your individual finances. Number one problem found in income statements: Inventory!

Remember that you're in a cost cutting game, so nothing should be out of bounds. * To communicate the restructuring plan. I suggest getting cash if possible. The business can do a restructuring when you follow a strict business blueprint to fix it. If you need more money and can't take it out of your own pocket, review Lesson 14. Discover all you will be able to about filing for s corporation bankruptcy and then set some appointments. If you and your husband or wife cannot agree on these answers, then my suggestion is to eliminate your losses and shut your enterprise. * An assignment of whom will call the customers and suppliers. Be sure you don't overspend in this area. And, you should pay less than the 60% rule because you are paying with up-front money.