QUESTION
Do I need to wait until chapter 7 is discharged to incorporate or can I do it now?
Asked on Apr 12th, 2013 on Bankruptcy - New Jersey
More details to this question:
I just filled chapter 7 today. I have a new business venture I want to begin.
4 ANSWERS
As a technical matter, I think you could incorporate your new business the day after you filed bankruptcy, but you are walking on some thin ice here. Until your self employment starts to make the big bucks, you probably do not need the legal structure of incorporation and the fees to incorporate can be substantial. I would suggest that you save this money for business operating expenses until your future is more secure.
Answered on Apr 16th, 2013 at 8:21 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
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You really need to talk to your attorney. This can be a very complex issue - what you do with pre-petition assets, etc.
Answered on Apr 16th, 2013 at 1:18 AM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
2 Awards
I would wait at least 30 day, although you have no obligation to do so.
Answered on Apr 16th, 2013 at 1:13 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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See an attorney, otherwise you will be defending against successor liability issues.
Answered on Apr 16th, 2013 at 1:13 AM