A lof of people may wonder if they can start their own business or open
an LLC or other business entity once they have received a bankruptcy discharge
and their bankruptcy case is over. The answer is yes.
Your prior bankruptcy case or discharge does not by itself, prevent you
from starting a business. However, there may be some residual impact from
your bankruptcy case on your ability to move forward with opening a business
such as the impact it may have on your ability to obtain credit or loans
for the new business. So, it may make sense for you to first consider
working on repairing and re-building your credit. Starting slow may make
the most sense. In addition, you will want to make sure you have taken
all steps required to create a valid business structure and also have
chosen the correct business structure for your personal situation.
Need more insight? Call Natasha Meruelo, Esq. today at (914) 517-7565 to
schedule a consultation to discuss your questions and concerns about starting
a business after bankruptcy.
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