I need help liquidating
Michael Taylor Estate and Moving Sales has been Nashville’s leading estate sale company for eight years.They provide comprehensive liquidation services for homeowners and businesses in the Metro area and beyond.Do you have many weekend markets in your area, you may find vendors there interested or even ones that are happy to take your products on consignment, Good luck with it. For example, retail avenues would offer the most potential, where as liquidating would be at the lower end of the scale.
You will also need this information for your tax returns.
Next you'll want to find buyers for property that is fully paid for and that you have not pledged as collateral for another loan.
In addition to tangible property, you may be able to sell intangible property that your business owns, such as: As you liquidate these assets, you'll want to record on this list how you tried to sell each piece of property (save copies of ads or Web listings), who ended up buying it, and the amount you received.
Keeping good records of your property and what happens to it will protect you in case a creditor later questions your liquidation of assets or in case you have to file for bankruptcy.
The cash generated from the sale of nonexempt assets is distributed among your eligible creditors.