QUESTION
Can our LLC FILE BANKRUPTCY WHEN ALL WE HAVE ARE CREDIT CARD DEBTS?
Asked on Jul 31st, 2013 on Business Law - California
More details to this question:
We have approximately $45,000.00 in credit card debts and we can no longer pay for them. Can we file bankruptcy for our LLC? The corporation still have some assets.
1 ANSWER
Yes an LLC is an entity that can file for bankruptcy.
But why? There are many other ways to deal with this including an
assignment for benefit of creditors or a simple winding up of the LLC.
More information can be obatined from by website
www.losangelesrealestateattorney.com or calling my
office at 800 - 233 - 8521.
Mitchell Reed Sussman
Attorney at Law
Answered on Aug 07th, 2013 at 12:47 PM