For many residents of North Carolina, launching a business is the first step in fulfilling a lifelong dream, but if you choose the wrong business structure when doing so, you can wind up facing unnecessary financial and personal hardship. At Daughtry, Woodard, Lawrence & Starling, we understand that the type of business structure you choose to establish will have long-lasting ramifications, and we have helped many people looking to establish their own businesses pursue solutions that meet their needs.
When a customer who owes your business a substantial amount of money files for bankruptcy, you have a tough choice to make. Do you pursue the debt into bankruptcy or do you chalk off the money owed as a loss? Too many business owners chalk the money up as a loss, fearing that going through the collection proceedings will expend even more resources they may or may not have. However, this may not be the best decision for you. FindLaw details what you can do if your North Carolina business decides to pursue a customer's debt through bankruptcy.
A recent report points to North Carolina being a very business-friendly place. This report is Forbes’ 2018 rankings of the best states for companies.