QUESTION
Can I open a new business now after filing bankruptcy 5 months ago?
Asked on May 21st, 2017 on Bankruptcy - New Jersey
More details to this question:
I have filed for bankruptcy (business and personal) 5 months ago and not yet received a discharge. I am being interviewed by the trustee 6 weeks ago.
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
Yes, you can start a new business.
Answered on Aug 09th, 2017 at 9:49 AM
Wait for your discharge, shouldn't be long now.
Answered on Aug 08th, 2017 at 5:38 PM
Normally, yes. However, I would need to ask a dozen or more questions.
Answered on Aug 08th, 2017 at 5:37 PM
It might help had you said why you are being interviewed by the trustee, but generally, if you can start a new business for little or not up front investment after filing bankruptcy, go for it.
Answered on Aug 08th, 2017 at 5:37 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
There is no law restricting you from starting a new business. Please keep in mind that obtaining credit at a reasonable cost may be hard for a few years-and one of the most frequent reasons for businesses failing is insufficient capitalization. But it may well be worth a try.
Answered on Aug 08th, 2017 at 5:37 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
I would wait another month, but yes you technically can.
Answered on Aug 08th, 2017 at 5:36 PM