Chapter 7 business

2010
01.09

Bankruptcy client comes in pretty upset about a collection call she had received from the Giove Law Office. Pretty clear FDCPA violations. In a chapter 7 bankruptcy, the trustee takes over the business and any issues the business may have. A chapter 7 trustee doesn’t want the liability for thinks like unpaid payroll taxes, If it’s a sole w/ no employees, the ch7 is fine. If there are employees, then do the 13. I had a client who owed a small corner grocery store once. The Trustee could not run fast enough from the business (which was pretty much washed up) or the inventory or the equipment. If there is any question, your client is gonna have to pay for an appraisal.

Related posts:

  1. The Chapter 11 bankruptcy laws provide for business debts Reorganizaiton
  2. The Chapter 11 Bankruptcy: Debt restructuring Business Tips

Your Reply