Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

business problem

View previous topic View next topic Go down  Message [Page 1 of 1]

1 business problem on Sun Jan 13, 2013 9:13 am

chaychu


Arresto Menor
Need your advise. I have a business but a lot of things gone bad and can't pay my debts to my supplier. They are demanding cash payment from me. But I really can't pay them outright cash. Can I file for bankruptcy? What options do I have? I have checks issued to them but I already closed my accounts? Please help

View user profile

2 Re: business problem on Thu Jan 17, 2013 9:42 pm

tsi ming choi


Reclusion Perpetua
You can file either:

1. Petition for insolvency
2. Petition for suspension of payments
3. Petition for corporate rehabilitation (in case you are a corp.)

Difference between them? depending on your type of business and your intent to pay or not to pay them.

View user profile

View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum