top Ad Widget



No announcement yet.

Starting a new business during a chapter 7

  • Filter
  • Time
  • Show
Clear All
new posts

    Starting a new business during a chapter 7

    I am filing chapter 7 shortly as I'm being laid off from my job. I'm contemplating what I'm going to do including looking for a full time job or starting up a new business to do contracting to companies since I might have more luck with that then finding a full time job as an employee.

    I am over the median by quite a bit, but I pass the means test so I know the US trustee might be interested in my case. If I start a new business right after my 341 hearing, even though I'm not earning any money from it yet, could the trustee keep my case open to wait and see if my business becomes profitable?

    I doubt the trustee will be interested. Most new businesses fail anyway, not saing yours will. But, future potential is usually of no interest unless there is, say, a guaranteed pay raise or a job offer already accepted that will substantially change your financial picture.

    Trustees and guidelines vary by district. Read up some more, ask your attorney, if you have one, and good luck in whatever you decide.
    11-20-09-- Filed Chapter 7
    12-23-09-- 341 Meeting-Early Christmas Gift?


    bottom Ad Widget