Limited Liability Company Llc
Personal Bankruptcy Chapter 7 and Limited Liability Company, are they related? Can we bankrupt business?
We filed chapter 7 in 2004, now we are sooooo in debt with our construction company (payroll taxes and more…) that we are considering bankruptcy on our LLC company. Can someone tell me if it is even possible to do that in Missouri? Is Limited Liability Company going to be linked to a personal bankruptcy in any way?
Thank you for all future answers
You really need to speak to a good bankruptcy attorney in your area, most will see you on a free consult. Depending how your business is set up, if you filed chapter 7 in 2004, you cannot do a chapter 7 again until 8 years after the first one. You would only qualify for a chapter 13 payment plan. Like I said before, depends on the first filing. You can review this link in the usbankruptcy courts website, http://www.uscourts.gov/bankruptcycourts/bankbasics04606.pdf
It’s in pdf format, and will give you some more information. Contact an attorney to see them and bring all your documentation they request so they can review everything and tell you what you can qualify for. Good Luck!