Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Hi - my name is Chris and I'm a Bankruptcy attorney here to assist you.
If you will be closing your business, and if your business has no assets, there would be no purpose served by filing a Bankruptcy.
If the loan is not personally guaranteed, and if your business has no assets and is closed, the lender would not be able to do anything to you or to your business.
This would be so, whether or not you filed a business Bankruptcy.
sorry, can you clarify something
we have a UCC outstanding for the business loan mentioned before. The landlord is now worried if he pays us for the equipment that the loan compnay can go after him for equipement?
the thing is we really need the money to pay our outstanding sales tax, please advise, thanks