Just wondering how many here have already filed personal and business and have managed to keep their business running after the fact..
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"I'm old enough to know better, but too young to care"
Filed Chapter 7 January 25th 2010
341 Hearing March 4th 2010
Discharged May 10th 2010 -
I had to change the business format from a S-corp to sole prop. However, I am a Realtor and it is not a traditional inventory type business.
Will get another S-corp as business picks back up...Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way.. -
My lawyer advised me that if the business had any assets (inventory, equipment, accounts receivable) then the trustee would want them. I've sold all of my inventory and most of my assets. What I have left will be fine under the Texas exemptions as "tools of trade." The resale value on my collection of tools is only a couple hundred dollars so it's nothing big.Comment
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I did the same, I sold 4 vans and tons of equipment. I have a C-Corp that I am just starting to use going forward, my old business is Sole Prop but I was wondering if I should even keep it open."I'm old enough to know better, but too young to care"
Filed Chapter 7 January 25th 2010
341 Hearing March 4th 2010
Discharged May 10th 2010Comment
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I have a corporation and was able to keep it.Golden Jubilee was a year-long celebration held every 50 years in which all bondmen were freed, mortgaged lands were restored to the original owners, and land was left fallow: Lev. 25:8-17Comment
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I have a corporation that will be filing along with our personal filing. In the process of setting up another corporation now that should be able to stay open. This corporation will have no inventory, and is basically dealing with information. The only assets of it will be some used computer equipment.
Hopefully, we can keep it. That's how I'm planning on earning my future living.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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I guess I should have ID'd myself scaredy cat, cuz I'm scared to death of it all. We're in GA and Dh is a subcontractor. Still working, but nothing like he was during the boom. Obviously we lived according to THAT income and now it's gone. I'm wondering if he can keep work van, tools, fax, computer and if that's going to be so many exemptions that we won't have anything personal left at all?????????
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