Open Biz during BK plan?

[hoobie]

What is the name of your state?What is the name of your state? NC


I am in the 35th month of a 43 month BK-13 payment plan. I want to purchase an existing small business that will do sales around 200k first year. I is currently breaking even...make a dollar lose a dollar. It is going to cost me 50k to start and will be fully funded by a private investor. Is this something that can be done (legally) during a BK plan? there will be no UCC filings if that means anything. Closing should be within a week. With being so far into BK plan and chance to pay it off after the 36th month I really don't want to have to tell the trustee all the details if I don't have to. What are some of the pros and cons. What path is suggested? any impute would be G R E A T L Y appreciated.

Thanks in advance to all

 

[bigun]

Do nothing until you spaek with your attorney.
There is a real chance that the payout to unsecured creditors will be increased. And yes, expect a number of questions from your trustee.

 

[hoobie]

Thanks for the good advise...talked to lawyer...for the most part I should be ok.