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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I will be filing bankruptcy within the next 6 months. I am

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I will be filing bankruptcy within the next 6 months. I am starting a new business, how will this bankruptcy affect my new business, I've got an occupational license, an EIN # XXXXX IRS and a bank account.
Hello,

Thank you for your question. I am happy to assist you.

I am a lawyer with 25 years experience. While I am not your lawyer and do not represent you, I will endeavor to provide you with legal information through this open and nonconfidential forum.

Regardless of the type of bankruptcy you choose to file, your business will be considered an asset in that bankruptcy.If the business does not fall within an exemption and you file a chapter 7, the trustee may liquidate the business for the benefit of creditors
Ellen and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 5 years ago.

Thank you for responding, if a trustee should choose to liquidate the business, (it has no assets other than name or what you might say shell) what can I expect to see about continuing business under that name.

Customer: replied 5 years ago.
Relist: Incomplete answer.
I accepted his/her answer but followed up with reply - its been 7 days now no answer to my reply.
My apologies. I did not receive your post of 2/1.If the business does not have any assets, it will be of no value to the trustee. In such a case the trustee may "abandon" his interest allowing you to keep the business after your bankruptcy
Ellen and 2 other Bankruptcy Law Specialists are ready to help you