QUESTION
are accounts receivable of a Missouri LLC that I own 100% of in jeopardy if I personally file bankruptcy?
Asked on Jun 05th, 2012 on Bankruptcy - Missouri
More details to this question:
The LLC is not in trouble.
I am filing bankruptcy to get out of a handful of rental properties I own.
my LLC has 7 employees. my accounts receivables are to the company, not to me personally. so I am of the opinion that the AR are for the LLC not "me" even though I own 100% of the LLC.
if I am personally filing for ch7/13, are my llc''s receivables even "in play"?
1 ANSWER
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Your LLC is a separate entity from you individually. Therefore, your LLC's accounts receivables are not your property, and are not included in the bankruptcy estate.
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Answered on Jun 12th, 2012 at 2:38 PM