Can filing bankruptcy effect your corporation?

Question

If I file personal bankruptcy can the court touch my business and how do I protect it?

Answer 1

either way you will need a bankruptcy attorney. the purpose of the corporation is to protect your personal assests no matter how big you are. if you used any personal property to gaurantee anything you can lose it. anything you personally agree to cover is a binding contact. but there are new laws now that make it harder to file.

Answer 2

Your shares of stock are assets of the bankruptcy estate. In a chapter 7 bankruptcy, your shares are assets that a chapter 7 trustee might consider selling to pay a portion of your debt. In a chapter 13, creditors are paid from you excess income paid into the plan rather than from selling your assets. So it basically depends on how valuable your assets are and what type of bankruptcy you file.

Answer 3

No, that's strictly why you include, to guard your human being resources and save your human being credit. you need to attempt merging or promoting outright at a low priced besides the undeniable fact that, rather of dropping each little thing. many people may even see skill for your employer or favor a dropping difficulty as a tax safeguard and purchase it from you. It by no skill hurts to target to reveal a nasty deal right into a mediocre deal. So, attempt to discover yet another customer, quick previously it really is only too overdue!

Answer 4

The court can take everything you have, but nothing you don't have. Put the name of the company into a trusted (very trusted) friend before filing and they can't seize it

Answer 5

Questions like this stem from a lack of sound education regarding the effective management of time and money.

Answer 6

depends on what bankruptcy you file