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Business Bankruptcy : Chapter 7, Chapter 11, Assignment for Benefit of Creditors
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Old 09-17-2009, 10:12 AM
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business bankruptcy

What is the name of your state (only U.S. law)? Wisconsin

I have 19,000 of cc debt About 17,000 is in business debt, but only 11,000 is in business name on cc. Can I switch my sole proprietorship to an LLC and then file business bankruptcy on the cc. I don't want to file bankruptcy because I dont think my wife should get a negative credit report from my business.
  #2  
Old 09-18-2009, 06:29 AM
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If you personally guaranteed any of that debt, it won't matter how your business is organized. You will still be responsible.
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Old 09-19-2009, 09:10 PM
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Moving to the main page. I'll be back in a bit and delete this.
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