Can one start a business after filing for bankruptcy?
Friday, November 12, 2010
If so, do you know for which type of bankruptcy to file?
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3 Responses to “Can one start a business after filing for bankruptcy?”
You probably can. But you really should not. You need to take time to get your financial self in order and back on firm ground. Starting a business is a risky thing to do if you had money to start it and keep youself going until the business takes off. At this point, you are starting in a place that leaves you in a definite disadvantage. The business maybe the greatest idea or service but at this point, your credit are its greatest liability instead of strength.
If one wishes to finance the business himself; yes. One would not be eligible for a business loan likely, though.
You probably can. But you really should not. You need to take time to get your financial self in order and back on firm ground. Starting a business is a risky thing to do if you had money to start it and keep youself going until the business takes off. At this point, you are starting in a place that leaves you in a definite disadvantage. The business maybe the greatest idea or service but at this point, your credit are its greatest liability instead of strength.
Yes.