Question from new BK filer?

[badandy]

[lrprn]

My situation is I have around 160k unsecure debt with about 100k of it from businessline. I have two businessline that are under my name and ssn but the business is an c-corp. .... don’t think I’m eligible for chapter 7 as I make 60k a year and live in los angeles.

Since more than half of your debt is business-related, that means you aren't held to the mandatory Means Test and Schedules results to see if you can file Ch 7.

When filing with business debt, you really need to find a good bankruptcy lawyer who files consumer business cases regularly.

I don’t own anything but thinking about buying a Honda accord as I don’t have a car. How would filing bk affect my new car purchase assuming I want to continue paying for the car?

It almost always helps to have more expenses like a car payment when you file. You want to get the car BEFORE filing. Afterwards your credit will be trashed and it won't be possible to get a car for anything but the most horrible interest rates.

Also, any recommendation on lawyers in the los angeles area? thanks

We have several current active members from CA - hopefully one of them in the LA area can recommend a good lawyer to you by sending a private message (PM).

Our forum rules don't allow giving lawyer recommendations here in the public forums.

[badandy]

[JRScott]

I can't answer your question badandy but so long as you can support that the money was used for a business purpose then it should be okay. You'll need to check out 3-4 lawyers in your area preferably with business debt bk experience. Then ask them