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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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can you amend your individual chapter 7 bankruptcy to also

Customer Question

can you amend your individual chapter 7 bankruptcy to also include doing business in your non profit corporation
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.
Hi JACustomer,
1) What form is your business (sole proprietorship, corporation, etc.)?
2) Are you the sole owner?
3) Are you asking if you can add your business to your personal Bankruptcy petition?
4) What sale are you trying to stop?
Customer: replied 4 years ago.

1. non profit corporation

2. yes

3. yes

4. my business building it already went to sell, I filed the bk on 02/21/2012 and the sell was 02/22/2012

Expert:  cfortunato replied 4 years ago.

Your business should have been included in your Bankruptcy petition. Since it was not, an amendment can be filed adding your business to the paperwork, as amendments can be filed at any time before a Bankruptcy case is closed.

 

I think this is what you wanted to know. If not, please let me know.
Thank you.

Customer: replied 4 years ago.
Should I do it on the 7 petition? should I put my answer on all other names used in the last 8 years using my non profit name there is something else will I be able to get the sale recinded
Expert:  cfortunato replied 4 years ago.

When did you file the emergency Bankruptcy?

Have you yet submitted the rest of the 60 pages that have to be submitted?

Customer: replied 4 years ago.
not yet I have until March 6, 2012 I will work on them today
Expert:  cfortunato replied 4 years ago.
When did you file your emergency petition?
Customer: replied 4 years ago.
02/21/2012
Expert:  cfortunato replied 4 years ago.

When I gave you the original answer, I didn't realize you have only filed an emergency petition. Amending this will not help you.

Last question - is your non-profit a 501(c) registered non-profit corporation?

Expert:  cfortunato replied 4 years ago.

When I gave you the original answer, I didn't realize you have only filed an emergency petition. Amending this will not help you.

Last question - is your business a 501(c) registered non-profit corporation?

Customer: replied 4 years ago.
Yes, I have until 3/6/2012 to complete it because I have a scheduled creditors meeting 321A on 3/28/2012
Expert:  cfortunato replied 4 years ago.

Last question - is your business a 501(c)(3) registered non-profit corporation?

If so, do you realize that no one owns 501(c)(3) non-profit corporations?

Customer: replied 4 years ago.
Can the funds still go to the non profit it is active and taxes are being filed can I still do my amendment with both names
Expert:  cfortunato replied 4 years ago.
Is your business a 501(c)(3) registered non-profit corporation?
If so, do you realize that no one owns 501(c)(3) non-profit corporations?
Customer: replied 4 years ago.
I am sorry it is non profit public benefit corporation. It is organized und the non public benefit corporation law for charitable purposes
Expert:  cfortunato replied 4 years ago.
Is your business a (501)(c)(3) registered with the IRS?
Customer: replied 4 years ago.

Yes

Can I still amend and complete the petition I have until 3/6/2012 thats my 14 days or it can be dismissed that is why I want to complete the petition and all the documents today

Expert:  cfortunato replied 4 years ago.

You can amend your petition for other purposes, but not to add the nonprofit corporation to it.

This is because by law, no one owns 501(c)(3) nonprofit corporations. Since you do not own the corporation, it does not belong on your Bankruptcy petition.

cfortunato and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.
Can and individual debtor complete a chapter 7 petition as a corporation
Expert:  cfortunato replied 4 years ago.

Are you asking if you can submit a Chapter 7 Bankruptcy petition for the corporation you are the president of?

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