Why It May be Time to File for Small Business Bankruptcy in Topeka KS

Posted By : Aubrey Mead , on Feb, 2020

 

Most small businesses fail within the first 18 months. There are always signs that indicate you are headed towards bankruptcy. If you notice any of the following problems, then it is time for you to file for small business bankruptcy in Topeka, KS.

You Are Having Cash Flow Problems

Money problems are the number one reason that businesses fail. That is why if you are having cash flow problems, then you may be filing for small business bankruptcy in Topeka, KS, in the near future. Your business may be able to miss one or two payments without any major problems.

Your Company Is Dealing With A Lot of Debt

It is nearly impossible to run a business without accumulating any debt. However, if you find yourself constantly applying for loans and maxing out your credit cards, then you may be headed for bankruptcy. You may end up having more bills than money if you are in debt.

Your Sales Are Declining

It is normal to have one bad sales month. However, if your sales have started to decline, then your business is probably on a downward spiral. It will be difficult for you to pay your bills if your sales have declined.

Your Personal Finances And Business Finances Are One

You should keep your personal and business finances separate. If your personal and business finances are combined, then your business may be in trouble.

If you are interested in filing for small business bankruptcy in Topeka, KS, then you can contact Hooge John R Attorney At Law PA.

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