Does Personal Bankruptcy Effect Your Business?

[mEREmERE]

LOUISA, VIRGINIA.

I AM ABOUT TO FORM AN LLC CORPORATION WITH A BUSINESS PARTNER. I AM ALSO ABOUT TO FILE FOR PERSONAL BANKRUPTCY. CHAPTER 7. WILL ONE EFFECT THE OTHER? SHOULD I WAIT TO FORM THE LLC? CAN ONE EVEN TOUCH THE OTHER? I AM CLUELESS ABOUT THIS.
THANKS

 

[1justwondering]

Any response?

California & Nevada
Did anyone respond to you or did you find out the answer? I too would like to know.

 

[bigun]

The problem with starting a business venture prior to filing bk is, the ownership in the business is an asset that a bk trustee may attach.
You really need to see a lawyer when you are mixing business assets and a personal bk.