CHAPTER 11 BANKRUPTCY
CHAPTER 11 - BUSINESS BANKRUPTCY
There are many benefits to filing a bankruptcy för your business corporation or limited liability company rather than simply closing the doors. Creditors of the business will be given what assets, if any, the business has and be sent on their way. Some state taxes such as Labor and Industries or Employment Security can be discharged without becoming a personal liability on the business owner.
Assets
Few people lose assets when filing a bankruptcy. Up to $125,000.00 equity in a home was protected until recently when the law changed to allow ALL equity up to the average sale price of a home within the county. That change protects $390,000.00 in equity at the time of this writing. Most assets are protected along with personal household items and vehicles. If you do not list an asset, it will not be protected. If you do not list a right to sue someone, you may forever be barred from bringing that lawsuit. Always disclose all of your assets. Lisa McBride will tell you what you can keep and what may require other options. Call for a free initial consultation with the attorney (509)838-0435 Print out the list of items to gather for the consult and print out and fill in the intake form. Bring it to your meeting with Lisa and together we can decide what is best for you.Location
P.S. Corp, 28 W Indiana, Ste G,
Spokane WA 99205
HOURS
509 838-0435
Monday-Friday: 9am-7pm
CALL
lisa@lisamcbride.com