I have purchased some stock of CIT when it was $.30 . For about 3 months it went about and down in value and then eventually the company when bankrupt. Now its out of bankruptcy and the stock is work $29.
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I am filing Chapter 7. My personal account does not show much activity. My business account shows sales of roughly 20,000 monthly however when I pay off the company that finances my inventory ( I do not own my inventory) It shows a profit of around $2000 per month. Even though my profit is below the median income, will the large deposits arouse suspision on the part of the court. The large deposits are followed by large payments to that company that owns my inventory.
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Issue shares. Get investor money. Then file bankruptcy. Shares are worthless. Then restructure and repeat.
Is this the new business model for corporations and executives.
We see this a lot in business these days. Airlines, Nortel, Charter, Sirius, K-mart etc.
I live in the UK and got myself in a mess with money Im around £10000 in debt, and had no problem paying the repayments untill I had a medical condishion which is stopping me to work, Iv thought of alot of things to repay including my own home business , but Bankruptcy has crossed my mind , but what is it what are the benifits and what are the downfalls, my parents say it will effect me for life , will it?
Thanks for that!
I can do loans in seven states, and I can even get someone a house in bankruptcy (chapter 13). 500 scores aren't usually a problem. I can do jumbo loans up to 3 million dollars. I can even do no documentation loans. My coverage areas are:
Alabama, Florida, Georgia, Illinois, North Carolina, Pennsylvania, and Texas.
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I ask because I have a job that I have maintained which probably puts me over the means test but I have to find a way to get out of this business and hoping someone has some advise.
I ask because I have a job that I have maintained which probably puts me over the means test but I have to find a way to get out of this business and hoping someone has some advise.
We are forced to close our business due to losing our main customer. We only owe one very large bill which is to an attorney whom we have already paid a lot of money to. We do not have the money to pay him after paying employees and contractors. Would we have to file bankruptcy? or if not, will we some how still have to pay him even after we close our doors?
I know someone who just declared Chapter 13. They say property and business is Worth one figure but there is no way it is worth that now. Does the trustee get appraisals.
bankruptcy is not an option for me. I dont like the thought of doing that.
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