A lot of 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) 752-5098 to schedule a consultation to discuss your questions and concerns about starting a business after bankruptcy.
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