Personal Guarantees and Bankruptcy
A financially struggling small business owner can become confused as to the extent of his or her personal liability for business debts. The answer is found in the relationship between the individual and the debt, in other words, “Is there a personal guarantee?” What is a Personal Guarantee? A personal guarantee is a contractual promise […]
4 Ways to Avoid Payroll Card Bankruptcy
On June 30, 2013, The New York Times ran a disturbing article for those considering Las Vegas bankruptcy on employers that switch their payroll systems from paper checks and direct deposits to payroll cards. Payroll cards are prepaid debit cards that replenish every month with the worker’s wages for that month. At first, it sounds […]