Chapter 13 bankruptcy is a very popular choice for individual debtors who do not qualify for Chapter 7 bankruptcy. Chapter 7 bankruptcy tends to be a very popular option since the entire process takes around six months, and debtors benefit from debt discharges. However, debtors will only qualify for Chapter 7 bankruptcy if their income is very low in comparison to their debts. Additionally, you will almost certainly lose your home as a result of filing for Chapter 7 bankruptcy.
Several factors beyond your control can affect the profitability of your farming business. Above-average snowfalls and droughts can impact the operation of your business, and in turn, your revenue stream. This trickle-down effect can cause debts too pile.
With the right vision and products, a startup can turn into a massive business empire (like Apple, for example). However, a lot of startups make serious legal mistakes that put their future in jeopardy (just like Apple did, for example).