middle of an LLC chapter 13 and it’s the worst thing I’ve gone through in my life

[Kkahanxo]

Hi,

I am currently in the middle of a chapter 13 business bankruptcy and it’s the worst thing I’ve gone through. Some days are so stressful. I’m just before confirmation and the US trustee filed a continuance in my case as well as objection from TD Bank. Both issues have been solved for but I’m so desperate for this to be over and just looking to talk to anyone who has been where I have.

[justbroke]

An LLC can't file a Chapter 13. A Chapter 13 can only be filed by an individual. If you're saying that you filed as an individual in a Chapter 13 and you are a member of an LLC and that LLC only has one member, then there can be some interesting dynamics. Otherwise, an LLC can only file a Chapter 7 or Chapter 11 (or Subchapter V).

Welcome to BKForum!

[Kkahanxo]

I meant chapter 11 😂 it’s been a long week.

[justbroke]

I meant chapter 11 😂 it’s been a long week.

Yes, Chapter 11 is difficult. if you attempted or have filed a Chapter 11 on your own, that's a lot. That also makes me wonder why you didn't file a Subchapter V. In a Chapter 11, you are technically a debtor in possession (DIP) and have all the rights of and you are the Trustee. (Unless a Trustee is assigned because they don't think you can do it.)

Most of the time, most business just close and wind down and not go through a Chapter 11. I hope that you received or are receiving assistance from an attorney. A Chapter 11 is no joke.

[Kkahanxo]

I have a really good attorney. I did file a Sub chapter V in my 11. The trustee, doing the MORs. I don’t think anything emotionally prepares you for the stress and sleepless nights. I’m at the very end now but just devastated we had to file a continuance before the confirmation hearing. Both issues have been addressed so the case should confirm. Key word should. I joined this forum because I was hoping to talk to other people who’ve been through it and survived. I feel like I’ll have ptsd for years 😂

[justbroke]

Again, welcome to the forum. You will find nearly any Chapter 11, let alone Subchapter V, debtors on here. This is mostly a consumer bankruptcy with some business involved (including LLC, S Corp, C Corp). But very few business bankruptcies, especially Chapter 11s.