The best way to do this is a Dump-Buyback where you intentionally bankrupt (dump) your failing business, and a new corporation that you control buys the financial resources from the liquidation proceeding. * Will your business haggle with my suppliers, my leasing company, my landlord, my bank and with the taxing authorities? Since most personal property is free from seizure, this generally means that nonsecured people you owe only get a few cents on the dollar that you owe them. * Has previously worked with declining companies. (When you have the skills and time, then do-it-yourself. Before you decide to file insolvency, converse to a financial adviser or a small business counselor. * Show how you will repay the loan. The entire method may help a company to bounce back from the red, and to regain control of their budget. In contrast, a factor does not care about your creditworthiness, but on your buyer's ability to pay your invoice. In addition, you can create more money by marketing excess tools and equipment.

As part of your cash flow controls, you'll stretchyour creditors by paying late. Prepare yourself for much paperwork when you file for chapter thirteen bankruptcy. Lesson 20: How Never To Get In Trouble Again! Moreover, don't forget that frequently you won't be doing future company with this deadbeat buyer anyway. * Never pay any law suit judgment against me because I'm judgment substantiation. The next item on the agenda of closing a small business is to cancel all of your permits, registrations, licenses, and any other lawful authorizations to operate your company.