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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am filing for bankruptcy, chapter 7. In assets, do I list

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I am filing for bankruptcy, chapter 7.
In assets, do I list a checking account for my corporation? In unsecured debt do I list my business credit card w balance of $0. I am surrendering 2nd condo, but will have to pay hoa dues untill bank takes it. Do I list these hoa on schedule J? My home has negative equity on first and second mortgage. Is it safe to not calim it exempted. someone told me Trustee may rent it out! My business income varries monthly, for schedule I,J will take Profit and loss, average and list accordingly. Am I correct?
Thank you so much for you help.
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

Good Morning,

My name is FiveStarLaw. I am Florida licensed attorney and member of the bankruptcy bar.

You have submitted numerous questions. I am happy to provide you with legal information in response to those questions but I can only answer one particular question per page. Which question which would like me to answer on this page?
Customer: replied 4 years ago.

hello. thanks for answering.


I signed up for unlimited answers, so hope we can get them one at time. I have been employed part time and also have my corporation, with me as president , etc and one employee only. Most of my income over past year came from corporation. my part time job has dwindled to zero. on my assets, do i list corporate checking account?


 

hello. thanks for answering.
It is my pleasure

I signed up for unlimited answers, so hope we can get them one at time.
Yes we absolutely can. I see that you are new to JustAnswer. I am happy to answer all of your questions individually as per the terms of your plan. I am compensated by the site for a single positive rating per page. Accordingly it is important to me that you ask only a single question per page. After I answer this question to your satisfaction, I request that you leave the positive rating and you can direct your next question to me by starting the question with "For FiveStarLaw"


I have been employed part time and also have my corporation, with me as president , etc and one employee only. Most of my income over past year came from corporation. my part time job has dwindled to zero. on my assets, do i list corporate checking account?
The law draws a distinction between corporate property and personally owned property. If you are filing a corporate bankruptcy, you would include the corporate bank account. If you are filing a personal bankruptcy, you would not list the bank account as a personal asset on your petition. Instead you would list your shares of stock in the corporation as an asset.
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