• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

S-Corp. bankruptcy

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.



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



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.

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).]

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential