QUESTION
Can the bank come after my busness partners assets if his home is in foreclosure?
Asked on Sep 27th, 2011 on Bankruptcy - Colorado
More details to this question:
My business partner foreclosed on his home. Can the bank come after our LLC business assets ?
3 ANSWERS
Glen Edward Ashman
Maybe depending on many facts you left out.
Answered on Jun 19th, 2013 at 2:06 AM
No.
Answered on Jun 03rd, 2013 at 2:02 AM
Bankruptcy Chapter 7 Attorney serving Fort Collins, CO
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The Salas Law Firm LLC
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The question is a bit unclear, but the if a debtor is in a Chapter 7 Bankruptcy and has an ownership interest in an LLC, then that is considered and asset and the trustee has the authority to sell that interest and distribute the proceeds.
Answered on Sep 30th, 2011 at 1:18 PM