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3/14/2010
VerifiedJudgments are matters of public record.
If you bankrupt the company to avoid creditors then the plaintiff will be able to come after you. It could be considered fraud in fact.
The same holds true if you change the name. You cannot change the name to avoid creditors. It's fraud and won't protect you at all.
If you bankrupt the company to avoid creditors then the plaintiff will be able to come after you. It could be considered fraud in fact.
The same holds true if you change the name. You cannot change the name to avoid creditors. It's fraud and won't protect you at all.
If the company has no assets to speak of then you can declare bankruptcy.
Or, you can sell the pool for the $10,000 and pay off the judgment and then go on with your business. You will lose the pool anyway if you declare bankruptcy.
You can get some free advice from a Trustee in Bankruptcy about the best and cheapest way to deal with this situation.
I would suggest holding off on signing any loan agreement or lease until you've received the advice from the Trustee.
Or, you can sell the pool for the $10,000 and pay off the judgment and then go on with your business. You will lose the pool anyway if you declare bankruptcy.
You can get some free advice from a Trustee in Bankruptcy about the best and cheapest way to deal with this situation.
I would suggest holding off on signing any loan agreement or lease until you've received the advice from the Trustee.
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