Legal Question in Bankruptcy in Illinois

S-corp

I have an S-corporation. If I file bankrupty is there an order to file? Should the corporation be done first or the personal or are separate ones even necessary?


Asked on 4/08/02, 3:54 pm

2 Answers from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: S-corp

Depending on the facts of your case, only a personal filing might be necessary. If two filings are necessary, you and the corporation can file at or about the same time. No particular order needed. Might I offer that you make an appointment with a bankruptcy lawyer as soon as possible??? Try to avoid the ones that advertise on TV as they tend to be the most expensive.

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Answered on 4/08/02, 9:09 pm
Bruce Buckrop Bruce Buckrop

Re: S-corp

No order requirement, you are one entity, your corporation is a second entity, file either one first

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Answered on 4/08/02, 4:18 pm


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