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Need advice in filing for bankruptcy

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1 Need advice in filing for bankruptcy on Wed Jan 10, 2018 5:50 pm

sukisuki


Arresto Menor
Hi! I am a small business owner. Unfortunately, our business is not doing well and we’ll have to file for bankruptcy because it is only me and my husband trying to save it and it is eating up our personal savings and assets. That is why I joined this forum. We need advice in filing for bankruptcy. The business owes my husband a lot. It is a corporation though. We were not able to pay our itr and sec last year and we still have pending contributions to sss pagibig philhealth. Is it hard to be able to file for bankruptcy here in the Philippines?

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2 Re: Need advice in filing for bankruptcy on Wed Jan 10, 2018 10:25 pm

attyLLL


moderator
if you file for bankruptcy, that would mean all your assets will be given to your creditors, and you will re-start with nothing. The process requires a court petition, you should approach a lawyer


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3 Re: Need advice in filing for bankruptcy on Wed Jan 10, 2018 11:21 pm

sukisuki


Arresto Menor
attyLLL wrote:if you file for bankruptcy, that would mean all your assets will be given to your creditors, and you will re-start with nothing. The process requires a court petition, you should approach a lawyer

The assets of the corporation right? Not personal assets?

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