My Part Time Computer Repair Business is Going Down the Tubes. – Eric

“Dear Steve,

Part time business of computer repair / consultation. I work full time for a fortune 500 company.

The part time business was formed as a LLC, can the LLC file chapter 7 or 11 and leave the personal stuff alone?

Eric”

Dear Eric,

It depends. The most important issue is going to be if you personally guaranteed any financial obligations or debt the LLC took on. If you did not, then the LLC is a separate legal entity and will not suck you in.

But you should find a local bankruptcy attorney, schedule a free bankruptcy consultation, and go meet with them for specific advice regarding your situation.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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