despritfreya thank you. What about buying a used personal vehicle that has a blue book value within personal Chapter 7 exemption amounts? Can a wildcard exemption also be put toward a vehicle? Basically if this has to happen I would like to have a vehicle worst case......

Hi guys so I purchased a vehicle for my mother but purchased it in the name of the business to get more favorable financing terms. The intention was always to pay it off then transfer it into her name. I've been told that transferring the vehicle into her name too close to a business Chapter 7 bankruptcy...

despritfreya I spoke with another attorney who said that filing Chapter 7 for the LLC would be cheaper overall than simply closing it. He says this is because there are over 1,000 creditors and that selling the LLC assets pro rata in a "going dark" scenario in an equal way to all of those...

justbroke despritfreya thank you both for the information. Let me ask you something else: information from an attorney online indicated that it might be a good idea to keep an LLC active for 5+ years after the business "goes dark" so that creditors can file litigation against the LLC. Is this...

Hi guys, I currently run a struggling small business which is registered as an LLC. I am very concerned that at some point this year the business will become insolvent and creditors will start coming after it. Some attorneys have suggested that the LLC should "go dark" and that I file a personal...