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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31769
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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can an LLC chapter 7 bk go after personal effects The LLC

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can an LLC chapter 7 bk go after personal effects? The LLC has TIN from IRS, separate books, place of business, etc.

The only way your personal assets are at risk is if you personally guaranteed any loans/open accounts on behalf of the company.


In that case, the company will be discharged, but the debt personally guaranteed will still be collectible from you by the creditor.

Customer: replied 8 years ago.
If this LCC filing Bk is owned by two other LLC, will they be able to drill down those two LLC's to get the actual names of the principals. We would like to keep our names out of the BK court.
The owners and officers of the LLC will have to be identified in the bankruptcy schedules. However, there should be no individual liability (other than personal guarantees).
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