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I'm engage in trading (sugar, oil, flour) and usually issued post dated checks as payments for deliveries. Sadly this past year i suffered a lot of losses that affected my finances greatly. Last month some of my checks were returned by my bank for lack of funds and since i have trouble funding them decided to close my checking account.
I'm contemplating closing my business since I don't have the financial capability to go on.
Assuming my creditors will sue me for payment (I have nothing really to give)what would be my liability? I have no real property/car under my name. My spouse has property and vehicle which was already incumberred to other creditors. what would be the worst penalty for conviction for violation of bp 22?
I'm contemplating closing my business since I don't have the financial capability to go on.
Assuming my creditors will sue me for payment (I have nothing really to give)what would be my liability? I have no real property/car under my name. My spouse has property and vehicle which was already incumberred to other creditors. what would be the worst penalty for conviction for violation of bp 22?
