Bankruptcy Law

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Related Bankruptcy Law Questions
A lender has filed a UCC lien on me/my business. I
A lender has filed a UCC lien on me/my business.I understand they can get the kitchen sink if they want, but what happens if I file CH13 ?… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,911 satisfied customers
I have an S-Corp Online Retail Store. The company has $300k
I have an S-Corp Online Retail Store. The company has $300k in credit card debt ($50K of it personally guaranteed). We do not have enough sales to cover the day-to-day and the debt payment ($5k/month)… read more
A.J.
A.J.
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In a bankruptcy case, how should the value of a businesss
In a bankruptcy case, how should the value of a business's inventory be determined (for the purposes of listing on schedules and the sole proprietor's exemptions)? Would it be the wholesale value (wha… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,911 satisfied customers
If I am a business owner and I have two different businesses
If I am a business owner and I have two different businesses both LLC form 1065 (my spouse and myself are owners). If we are filing Chapter 7, can I start a new business with an outside partner or do … read more
cortrightlaw
cortrightlaw
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Doctoral Degree
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Dear cfortunato, Im liquidating a retail store and will
Dear cfortunato, I'm liquidating a retail store and will file for CH. 7 B.K. shortly after its close (sole proprietor.) Between now and then, I want to start a cleaning business using my current truck… read more
cfortunato
cfortunato
J.D.
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I had a retail store in Colorado. I filed a chapter 7 then
I had a retail store in Colorado. I filed a chapter 7 then changed it to a chaper 13. I owed sales tax on the business. (State and city, collected seperatly). Since the bankruptsy has been discharged … read more
wallstreetfighter
wallstreetfighter
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My parents and I own a retail gift store and have a Colorado Corporation for it. Many of o
My parents and I own a retail gift store and have a Colorado Corporation for it. Many of our suppliers are going out of business and we are predicting a possible bankruptcy situation in a few months. … read more
Dylatess
Dylatess
JD
1,540 satisfied customers
Can anyone get me a cite of a court case where sales tax was
Can anyone get me a cite of a court case where sales tax was discharged in a chapter 7 bankruptcy because it was treated as a tax on gross receipts?… read more
John A. Flynn, Esq.
John A. Flynn, Esq.
Attorney/Owner
Doctoral Degree
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I have a retail store (sole proprietor) drowning in unsecured
I have a retail store (sole proprietor) drowning in unsecured and secured debt. I want to close the store, sell 70% of my assets to pay ALL of my secured debts. Then, take my remaining inventory, and … read more
cortrightlaw
cortrightlaw
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Doctoral Degree
527 satisfied customers
I have a retail store in financial distress. I have about $75K
I have a retail store in financial distress. I have about $75K in inventory (wholesale price), $5K in store fixtures, $72K in credit card debt, $45K in secured debits (inventory vendors), and $125K in… read more
cortrightlaw
cortrightlaw
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Doctoral Degree
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Im in a multi member LLC and my one partner has severe credit
I'm in a multi member LLC and my one partner has severe credit issues and plans to file chapter 7. what's the risk to the other 2 members? and what should we do to protest the LLC line of credit… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
27,354 satisfied customers
I had a business that in August of last year a previous landlord
I had a business that in August of last year a previous landlord (not my current one where my store is now) put a lien on my inventory because they were sueing me for almost a million dollars for the … read more
cfortunato
cfortunato
J.D.
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With some factors that could negatively impact my business,
With some factors that could negatively impact my business, I would like some guidance as to when and if it would make sense to fle for bankruptcy in Louisiana.… read more
cfortunato
cfortunato
J.D.
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Attempting to transfer assets to another person before declaring
"Attempting to transfer assets to another person before declaring bankruptcy will not protect them from liquidation. Your bankruptcy trustee can recover any assets transferred in the last year (or mor… read more
wallstreetfighter
wallstreetfighter
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Doctoral Degree
11,809 satisfied customers
We own a small retail store and are forced to close. All of
We own a small retail store and are forced to close. All of the debt and the lease were personally guaranteed by us. We are debating on bankruptcy, but that is our last resort. Situation: * Owe $110,0… read more
Maverick
Maverick
Doctoral Degree
8,059 satisfied customers
question for a missouri BK attorney only I am in bankruptcy
question for a missouri BK attorney only: I am in bankruptcy and own 1/2 of a house that is valued at 108,500 by appraiser. The other owner is not in BK and we are not married. The mortgage is 32,500.… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,911 satisfied customers
I found out last night that a (former) friend..that I loaned
I found out last night that a (former) friend..that I loaned $175,000 in June 2007....and stopped making monthly payments on the loan 6 months ago...is filing for bankruptcy tomorrow. I have a notariz… read more
socrateaser
socrateaser
36,673 satisfied customers
Where can I find information of bankruptcy businesses I am
Where can I find information of bankruptcy businesses? I am in contact with investors in Europe that could be interested in purchasing bankruptcy inventory.… read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
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Meet the Experts:

Terry L.

Terry L.

Attorney

2,911 satisfied customers

Better Business Bureau. 20+yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

527 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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