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My LLC and personal bankruptcy

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  • hardworkingman
    started a topic My LLC and personal bankruptcy

    My LLC and personal bankruptcy

    I own a LLc which is doing OK; however it was a form of "supplementary income" for me. I lost my real job last year and now all my other debts are now forcing me into personal bankruptcy. If I file can I continue to operate the LLC? The LLC itself does not own any equipment or property, nor does it have any outstanding debts in its name. We rent any needed items when we do work.

  • Betty3
    replied
    Thread is an old thread from/started 3-09.

    Leave a comment:


  • CatBert
    replied
    When I filed bankruptcy, we considered chapter 13, which would have allowed me to continue running my business.

    We opted for 7 and closed the business in the end so I can't help much beynd what I have said above. Sorry.

    Leave a comment:


  • Betty3
    replied
    I haven't had a similar situation so I can't comment further. However, you can check back & maybe another responder will have add'l. info for you or have had a similar situation.

    Leave a comment:


  • hardworkingman
    replied
    Llc

    OK I figue I will have too. I'm wondering if the LLC owns nothing but brings in money what would the bankruptcy have to take from it??? Has anyone out there actually had a similar situation and if so what did you do/how was it handled??

    Leave a comment:


  • Betty3
    replied
    This can get tricky. You need to talk to a bankruptcy attorney in your state.

    Leave a comment:

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