So I have an LLC under my name, 100% ownership. I’m considering filing personal bankruptcy.

Some facts that might help you help me.
1. I’m in California
2. I have $10,000.00 roughly in my LLC bank account, nothing else after that.
3. I have about $30,000.00 in non-secured debt.

If I file a Chapter 7 (personal bankruptcy) assuming I qualify, will the trustee get a hold of my LLC and assets that are under that LLC?

How will this affect my LLC, if it will affect it at all?

I’m not too smart, I have no idea what laws apply so be nice but be honest… and speak like you’re talking to your grandpa.

Add to the list.

The deficit. Body armor. Medicare reform. Social Security reform. The minimum wage. Port security. The National Guard. Diplomacy. The Geneva Conventions. Fair elections. Clean elections. Intelligence. Protecting the Constitution. Protecting the Bill of Rights. Government transparency. Oversight. Separation of church and state. The middle class. The poor. Tax reform. Tax cuts. Bankruptcy law. Global warming. Disaster management. Defeating terrorists. Saying no to lobbyists. Saying yes to public opinion. Pre-war planning. Post-war planning. Competence. Civil rights. Civil liberties. Civil debate. Veterans’ benefits. Hiring based on ability. Legal surveillance. Morality. Energy policy. Energy independence. End-of-life decisions among spouses. Inclusion. Learning lessons from history. Learning, period. Drug policy. Fiscal responsibility. Trusting the generals. Trusting the spooks. Trusting the experts. Basic honesty. Basic health care. Education. Creating jobs.

My friend and I were talking about her new job at a law office. I asked her “what type of law does the lawyer practice?” she answered “all kinds.”

I have another friend who is in law school and he has to choose what type of law to specialize in (divorce law, bankruptcy, corporate, international, etc.)

Just like there are many types of MDs (cardiologist, anesthesiologist, etc), do you have to specialize if you’re a lawyer.

So is my friend’s answer of “all types” incorrect?

Thank you!

I get a monthy disability check.Ive heard you need to pay back depts now.Can any one tell me what are the laws.What I need to do?Thanks

Hi,
I’m new to the financial industry and was told that a “clean” u-4 is needed….what is that? I’m not sure if I will qualify or not – I had a bankruptcy 6 years ago – it’s been discharged for 6 years, and some past due accounts, but it’s only about 1,000 to 2,000 in outstanding behind debt. That’s about it. Never been in trouble with the law other than a speeding ticket. Will I clear? Thanks!

Arnold, Bill, Claudia, Dieter and Ewan are all bought a house together. They all contributed equally to the purchase price, and the house was conveyed to “Arnold and Bill as joint tenants in law and in equity”. Bill was made redundant a few months later and he forged Arnold’s signature to a mortgage made with Easy Loan Bank.

At the same time, Arnold agreed in writing to sell his interest in the property to Ewan and the agreement was executed. Meanwhile, Claudia had plans to marry and asked Dieter whether he would buy her share in the house. Dieter was keen but disputed the price. Before they came to an agreement, Claudia died, leaving all her property to her fiancé, Fred. Soon after, Ewan was involved in a city deal that went badly wrong and, owing millions, was made bankrupt. Before Ewan was finally adjudged bankrupt, Dieter committed suicide, leaving all his property to the Donkey Sanctuary.

Ewan’s trustee in bankruptcy, Fred, the Donkey Sanctuary, Bill and Dieter’s next of kin all claim an interest in the property.

What is your advice?

I had a credit card debit from 1983. I filed bankruptcy in 1985 and included this in it. Now 25 years later I get a letter from a Midland Funding Collection Co saying I have to pay the debt or “else”….anyways, I called and told them the debt was discharged in bankruptcy procedings in 1985…Now I get a second letter stating that they have no record of the bankcruptcy and I need to have my attorney send them a copy. This is 25years old, and I can’t even get any legal copies of anything to send them, as the archives only will allow access back to 1987. I tried calling them and was treated so rudley I couldn’t even believe it……I wrote them and told them again to leave me alone…..what can or should I do, I am sick of them harrassing me….Isn’t there some law or something that protects me from this???? Please help…Serious replys only people…..this is no joking matter.

Washington Mutual Inc. got what it wanted in 2005: a revised bankruptcy code that no longer lets people walk away from credit card bills.

The largest US savings and loan didn’t count on a housing recession. The new bankruptcy laws are helping drive foreclosures to a record as homeowners default on mortgages and struggle to pay credit card debts that might have been wiped out under the old code, said Jay Westbrook, a professor of business law at the University of Texas Law School in Austin and a former adviser to the International Monetary Fund and the World Bank.

http://www.boston.com/business/personalfinance/articles/2007/11/11/shift_in_bankruptcy_laws_staggers_mortgage_holders/

I was hit a few months ago by an under-insured mortorist. His (mom’s) policy was only worth $25,000.00, barely enough to cover my emergency care bills. Not to mention all my orthopedic follow-ups and physical therapy. My medical insurance does not cover injuries incurred by a third party. My lawyer has checked all options for extra coverage, and says the next step would be to file a law suit against the other driver. He was clearly at fault (ran a red light, caught on camera), but I don’t think guy has any money. The lawyer said the guy could just file bankruptcy to avoid paying anything. How does it work if you sue someone, and they have no money to pay?

I am a Bankruptcy Paralegal for a firm that handles Criminal Defense and Bankruptcy Law. I would like to do a little side work as a Petition Preparer and offer individuals a lower cost option. I cannot offer legal advice or complete the process like an Attorney can, although I can draft all legal documents concerning the Bankruptcy for a small fee.

I have never signed anything with my employer as to side work.

Could they sue me if they found out? Fire me??
Just to clarify.

There has been no compete contract signed. The firm is a small firm, husband & wife, who are not very professional. If I lost my job I would be okay, considering taking a new position as is. I am not looking to take clients from the database nothing of that nature.

I am considering placing flyers out for Bankruptcy Options at lower cost. No Legal Advice.

My main concern is if I start this prior to taking a new position in a completely different field of law, could they sue me.

Thank you for all your responses!