If My Business Gets a Discharge, Am I Personally Off the Hook?
[Updated August of 2026] This is one of the most common questions we hear in consultations: “My business filed bankruptcy… am I personally clear now?” Usually, no. A bankruptcy discharge only protects the person or entity named in the filing. If your LLC or S-corp files and you didn’t, you can still be on the […]
Is a Corporation or other Business an asset in a Chapter 7 Bankruptcy?
Is a Corporation or other Business an asset in a Chapter 7 Bankruptcy? Whether you have shares in a public company, own an LLC, or have an interest in a partnership they may be of value to a Bankruptcy Estate. First, in a Chapter 7 case the estate becomes property of a Bankruptcy Trustee when […]