Can I register for another LLC business before I file for chapter 7 bankruptcy on a previous failed business? 8 Answers as of May 24, 2017

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Ronald K. Nims LLC | Ronald K. Nims
Yes, however, the new business will be an asset subject to the bankruptcy, so if there is inventory or other assets they may be taken by the trustee to pay your creditors?
Answer Applies to: Ohio
Replied: 5/24/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
You should pay an experienced BK lawyer for one hour of their time. This could save you a lot of time, trouble, and money down the road. Now is not the time to skimp!
Answer Applies to: Colorado
Replied: 4/25/2017
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
It does not seem illegal to do it, but it will look fishy to the bankruptcy trustee. your bankruptcy lawyer will probably suggest that you wait until after you have filed your petition.
Answer Applies to: Wisconsin
Replied: 4/23/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Sure, but you can do it after bankruptcy as well.
Answer Applies to: California
Replied: 4/22/2017
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
Yes.
Answer Applies to: Texas
Replied: 4/22/2017
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    You can do this, but I have to say it would be a terrible idea. Your Chapter 7 Trustee will be entitled to shut down your new LLC.
    Answer Applies to: Nevada
    Replied: 4/22/2017
    Garner Law Office
    Garner Law Office | Daniel Garner
    Yes, but you would have to disclose the new business in your bankruptcy filing.
    Answer Applies to: Oregon
    Replied: 4/21/2017
    Patrick W. Currin, Attorney at Law | Patrick Currin
    There are no BK laws related to forming corporations. If you file BK for a failed corporation it would be Chapter 11 not 7.
    Answer Applies to: California
    Replied: 4/21/2017
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