Now that you’ve assured you have covered all regulatory avenues, it’s time to dig into your pockets and pay off whatever debts you can and close them out from under your business name.

Your business banks – Close out your business bank accounts and cancel your business credit cards. If you have balances on your accounts, your lender will want to know how you plan on paying them off. They may want to look at any business collateral to make sure that it is still in working condition.

Your landlord – Give your landlord the required amount of notice as stated in your lease. If your lease isn’t up, you’re still liable for any rent for the remainder of the lease.

Try to come up with a workable solution for you and your landlord. If your lease was month-to-month, make sure to collect any security deposits that are owed you.

* To do: Negotiate with banks, creditors, and landlords. Make sure to get receipts for all payments made. Most of these places will work with you to help you pay off as much debt as possible. Negotiations will work wonders for your business reputation in future endeavors.