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Business Bankruptcy
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For a business filing a bankruptcy in California, which chapter is best?

There is no different answer for California than for the rest of the states. If you want to save the business, then consider a Chapter 13 bankruptcy (if you are an individual conducting a small business) or a Chapter 11 bankruptcy (if you are a corporation or a partnership). If you simply want "out" and to clear the decks, then Chapter 7 bankruptcy is the most logical choice.

(Reviewed 11.10.08)
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