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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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we have just filed bankruptcy chapter 7. My husband is suppose

Customer Question

we have just filed bankruptcy chapter 7. My husband is suppose to be starting work for another company leasing on as his business llc. can they take assets under the llc?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

Hi JACustomer,

You wrote, "My husband is suppose to be starting work for another company leasing on as his business llc". This sentence is not clear.

Does your husband own an LLC?

What is the relationship between "his business LLC" and the company he will be working for?

You have not Accepted 4 out of 5 Answers. Can you please give an indication of what you are expecting in order to Accept an Answer?

 

Customer: replied 5 years ago.

its a trucking company he's leasing on to. I will pay for your help if its a reasonable amount$. I shoulsd still have a deposit in my account i need to use any way. Thanks

 

Expert:  cfortunato replied 5 years ago.

You said, "its a trucking company he's leasing on to".

What is "on"?

Who owns the LLC?

The amount you chose - perhaps inadvertently - to pay for the answer to this question is $48. If you think that is too much, I think you can change the amount. Why don't you try to do that first?

Customer: replied 5 years ago.
just forget it, i'll call my lawyer i already paid. was just looking for a quick brief answer.
Expert:  cfortunato replied 5 years ago.
Okay!
Customer: replied 5 years ago.
No wonder u dont have a real job! so rude!
Expert:  cfortunato replied 5 years ago.

I absolutely did not mean to be rude. I had respond with something so that your question stopped appearing on my screen, and did not mean to be rude.

Customer: replied 5 years ago.

to accept what i stil dont know any more than i did when i started!

he is a truck driver leasing his truck on to a trucking co....

Expert:  cfortunato replied 5 years ago.

What is your husband's truck worth?

What is the balance - if any - of the truck loan?

Customer: replied 5 years ago.
I guess all i really am trying to ask, is because the business is a LLC would it be seperate from our personal bankruptcy? would it be exzempt?
Expert:  cfortunato replied 5 years ago.
No - the LLC would be treated as an asset in your personal Bankruptcy. Any property that belongs to the LLC would become an asset of your personal Bankruptcy.