According to data provided by Statistic Brain, which compiles data from several different sources, 50 percent of all new businesses fail by the end of their fourth year of operation. Creditors may ...

If you have a debt canceled, you'll probably need to include the canceled amount in your taxable income unless you qualify for an exception. One common exception is to claim insolvency -- that is, the ...

At tax time, getting a form 1099-C in the mail can be a pretty nasty surprise. A form 1099-C, Cancellation of Debt, is issued by a lending institution or a bank when you settle or pay a debt for less ...

Sometimes corporations encounter financial difficulties. Some corporations can work out issues and restructure their debts directly with lenders and creditors. Others must file for bankruptcy to ...