Personal Bankruptcy and my LLC.

[Ajgraf]

What is the name of your state? Washington State

I have a small wholesale meat business, recently I have had major financial problems, I have filed a chapter 7 personally and I have included with my personal bankruptcy 30k of business debt that I cannot pay. My question is I want to continue my business, with the business name I have, can I? Do I have to reapply for a new LLC and New UBI? I was told by layperson that my debts against my company will still exists will be outstanding and do not fall away due to my Chapter 7. What is my best solution?

Thanks for your time!!!

AJ

 

[JETX]

I have a small wholesale meat business, recently I have had major financial problems, I have filed a chapter 7 personally and I have included with my personal bankruptcy 30k of business debt that I cannot pay.

Sorry, but you cannot file personal bankruptcy and include business debts from an LLC in that bankruptcy.

My question is I want to continue my business, with the business name I have, can I?

Depending on the form of the business, probably not.
And even less likely if you try to include debts from that business.

I was told by layperson that my debts against my company will still exists will be outstanding and do not fall away due to my Chapter 7.

The 'layperson' is correct.

What is my best solution?

Learn to live within your financial limits.
Pay your debts.