If you are self employed and you reach the stage where your monthly expenses are greater than your income, it is time to consider what the best option is for you - foreclosure or bankruptcy? Do not wait until it gets so bad that you lose all your possessions before you take action. There are different options depending whether your company is a close corporation, registered company, sole proprietor or if you formed a trust at the commencement of the business. A close corporation and sole proprietor are very similar. Depending how many members form part of the close corporation and who the … [Read more...]