If My Business Gets a Discharge, Am I Personally Cleared of the Debt?
One of the most common bankruptcy misunderstandings we hear at The Law Office of William Waldner, PC is this: “If my business gets a discharge, I’m personally off the hook, right?”Wrong. While filing for bankruptcy can provide powerful relief—especially for small businesses—it doesn’t automatically protect you or anyone else associated with the business unless they’re […]
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 […]