Everyone loves to believe that her business is going to be the one that breaks through and ends up a huge success. But according to the Bureau of Labor Statistics, only 20% of new businesses survive after the first year.

The fact is that many entrepreneurs underestimate how much it takes to get a business off the ground or how hard it can be to cover bills while in start-up mode. If your business was built with personal credit cards or loans, this can lead to personal financial trouble if the business struggles and you’re not careful.

Hathaway Adair, P.C. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. This newsletter is for informational purposes and should not be considered legal advice. Please consult Hathaway Adair, P.C. or your own legal counsel for legal help.