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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19134
Experience:  B.A.; M.B.A.; J.D.
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I have a florida General Contractors License and I qualify a

Customer Question

I have a florida General Contractors License and I qualify a Company that I am 100% owner and I am thinking of filing for bankruptcy
JA: The Bankruptcy Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: The company not me
JA: Please give me a bit more information, so we can help you best.
Customer: I would like to know how that would affect the renewal of my license in August
JA: OK. The Bankruptcy Lawyer will need to help you with this. Is there anything else important you think the Bankruptcy Lawyer should know?
Customer: No......Except would the bankruptcy clear any judgements against the company
JA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Bankruptcy Lawyer about your situation and connect you two.
Submitted: 1 year ago.
Category: Bankruptcy Law
Customer: replied 1 year ago.
My State Licensed General Contracting Company has a judgement that I cannot pay and I need to renew my license in August. Normally they will not renew if I have pending judgements (From what I understand) so I want to do a strategy to get around this. Can I file for corporate bankruptcy get the Judgements dicharged and keep the same company by restructuring or can I chapter 7 it and move my GC License to a Fresh Company?
Expert:  Phillips Esq. replied 1 year ago.

You can file for Chapter 11 to restructure the debt or you can file for Chapter 7 to dissolve the business and start a fresh company. Technically, there is no discharge of debts for a business Chapter 7. However, if you did not personally guarantee the debt in question, successful completion of Chapter 7 means that the creditors will have no reason to come after you. The assets of the company have been liquidated and distributed to all creditors by the Chapter 7 Trustee. For more information, click on the link below:

The State cannot refuse to renew your license based on the bankruptcy filing. See 11 U.S.C. Section 525:

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