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frankiekilroy
Guest
My brother is trying to divorce his wife here in Oklahoma due to several cases of infidelity on her part. He owns his own small business, which is not incorporated, it is a DBA. His wife has run up $30,000 in credit card debt. Here are my questions:
1 - If he incorporates the business before he starts divorce proceedings will that save his business from their personal debt?
2- If he is unable to incorporate his business does he stand a chance of losing the business? If she later defaults on their joint credit card debt can they take his business?
3- Is filing bankruptcy an option in saving the business?
1 - If he incorporates the business before he starts divorce proceedings will that save his business from their personal debt?
2- If he is unable to incorporate his business does he stand a chance of losing the business? If she later defaults on their joint credit card debt can they take his business?
3- Is filing bankruptcy an option in saving the business?