Legal Question in Bankruptcy in California

Going through Texas LLC Ch 7 bankruptcy which should be discharged end of the month. After the discharge, can the bank still come after me say 5 , 10 years down the line.

Also have 60000 in personal c.c. which was used for the LLC. I do not have source of income or other assets at the moment. I own one car and one is financed which is being paid for by someone else. I have about 20000 in IRA ACC.

Do I need/qualify for personal bankruptcy. I am also thinking about moving to new zealand. How would this affect me overseas? I am in cailf. now but LLC was filed in Texas on oct.2009.


Asked on 9/05/10, 2:10 pm

2 Answer from Attorneys
Asaph Abrams Law Office of Asaph Abrams

A corporate bankruptcy does not effect a discharge or absolve you of personal liability.

Consult a local bankruptcy attorney to consider an individual filing.

And when you make the trek, say hi to my Kiwi friends.

Disclaimer: the above as well as any information found on our Web site is not legal advice and should not be relied upon. It does not create an attorney-client relationship. Unilateral communications may be misconstrued as they do not address all facets, nuances, and particulars, or all means of addressing a situation. This is strictly my opinion provided for general informational purposes and it pertains to California law. We do not review and are not responsible for the content of other attorneys� answers even when they answer the same questions. We recommend you seek legal and other professional counsel before acting or refraining from action in relation to bankruptcy. It's worth the cost.

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Answered on 9/10/10, 2:22 pm


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