My question regards XXXXX XXXXX want to know if my corporation would
It is a corporation. I am assuming that I would file a Chapter 7
The corp has a long standing negative cash flow.
It is paying it's invoices -for products to venders 60-120 days late.
There is minimal- perishable inventory & no valuable fixtures ect.
It is maxed out on credit cards & is barely making minimum payments.
Can it discharge all of it's vendor & credit card debt
Not concerned about bad credit report as officer of corp has IRS
Does the bankruptcy appear on the "owners" credit report & effect their ability
to get any unsecured debt & for instance auto lease- credit cards?
Is it possible to sell remaining inventory after filing the bankruptcy & keeping that money.
Is it necessary to hire an attorney & ball park on that cost?
How long does it take for court to determine eligibility?
What other criteria is there?