Bankrupcty questions

[D.C Young]

Hey, anybody in here familiar with Bankruptcy?

I have a question about Chapter 7 Bankruptcy.


- Can your personal assets such as a PC, Video Game Console, TV, be taken away?

(these items where all purchased using the same credit cards who's debt you want to be forgiven)

- If you own a S Corporation, can a Chapter 7 Bankruptcy affect it in any way?

 

[DEAD7]

Hey, anybody in here familiar with Bankruptcy?

I have a question about Chapter 7 Bankruptcy.


- Can your personal assets such as a PC, Video Game Console, TV, be taken away?

- If you own a S Corporation, can a Chapter 7 Bankruptcy affect it in any way?

Spoiler

 

[88m3]

Um...

 

[hashmander]

i suggest you checkout legal zoom or sites like that. i have no clue about the process.

 

[D.C Young]

i suggest you checkout legal zoom or sites like that. i have no clue about the process.

yeah I sent them a email already...thanks

 

[88m3]

yeah I sent them a email already...thanks

You should be well in the hole to even consider it...


You're going to have a hard time getting credit if you own a business.

 

[Domingo Halliburton]

Those can't be worth anything...especially on a secondary market. I don't why they'd bother. You're fine.

Credit card debt (I'm assuming that's what this is) is unsecured.

 

[Domingo Halliburton]

Now that I'm looking at some of these laws, did you own a business?

 

[D.C Young]

Those can't be worth anything...especially on a secondary market. I don't why they'd bother. You're fine.

Credit card debt (I'm assuming that's what this is) is unsecured.

yeah its credit card debt....I purchased all those items using those credit cards

It was years ago though, so it wasn't any fraud

 

[D.C Young]

Now that I'm looking at some of these laws, did you own a business?

I currently own a business

those credit card debts wherent accumuluated through my business though

it's all under my personal name

my business is incorporated through a S Corporation

It's pretty much a start up though...I've made money with it, but relatively little