S-Corp. bankruptcy

[ADGIRLIEQ]

We may have to file bankruptcy for our business very soon. Our landlord recently increased our rent $550.00 per month and we just can't fit it in our budget.
Our business is a S-corp in Fl. and we don't know how it works with bankruptcy. Do we also have to file personal since we have had to sign a lot of things as guarantors? I also wonder what happens with our personal property, such as our house, cars, motorcycles, etc.????
PLease give me any advice you may have.. I will be greatly appreciative....
Thank You
angela

 

[Tracey]

This is a very complicated decision involving your loan papers, assets, income, etc. Hire a bankruptcy attorney immdiately. If nothing else, filing BK will operate as a stay on any eviction.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.

[This message has been edited by Tracey (edited July 18, 2000).]