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10-29-2009, 12:53 PM
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#1 |
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Registered User
Join Date: Aug 2009
Posts: 9
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LLC with Investment lots in foreclosure
Ok 4 yrs ago we opened a LLC (but file as S-corp for tax reasons) not sure but that is what the account setup. In 2006 we bought a investment lot in North Carolina.....well is was very bad...I stop paying on it cause the other investor stop and I could carry it by myself. Well I filed for CHp13...now the bank wants defiency which is HUGE 165K plus maybe...depeding what they get at auction. question I have...I thought having the LLC I would be ok but I'm not. The deed is in the LLC name along with other co-owner LLC name and the load (mortg) is secured by the lot. The bank note is in my name since it was a new business with no history could not get loan in business name. Is there anything I can do? |
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10-30-2009, 11:09 AM
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#2 | |
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B/F Mentor
Join Date: Apr 2009
Posts: 741
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Quote:
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July 4, 2009 - Independence Day
The countdown begins..... November 18, 2009 Attorney Meeting Filing Chapter 7 December 8, 2009 |
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