Legal Question in Bankruptcy in Louisiana

I applied for business lines of credit for an LLC. I stated that I was going to use the money to purchase medical equipment (back braces) for the business. I had no intention of purchasing any back braces and instead used the money for an investment which went bad. I may be forced to file for bankruptcy. What will the legal ramifications be? Some business lines were granted without any kind of phone interview. Other phone interviews required that I tell the bank what I was using the money for and the type of business. The bank required no documentation of what the business was. I understand this was a bad decision and is why I lost out on this investment. Any help is appreciated.


Asked on 12/06/09, 12:54 pm

1 Answer from Attorneys
Hardy Parkerson Retired Attorney; now Law Professor

Dear LawGuru Friend,

I have retired from practicing law after 41 years

of active law practice, handling all kinds of cases,

including bankrupticies. However, you have a

real legal problem here that I shall be glad to

discuss with you and give you my thoughts and

suggestions. However, rather than do it here

over the wire, I suggest you e-mail me your name

and phone number to [email protected],

as well as your personal e-mail address; and I

will be back in touch with you to discuss your

legal situation. There will be no charge for what

I am able to do to help you. I thank the Lord

for the opportunity to help someone with a legal

problem, even after I have retired from the practice

of law!

Looking forward to hearing back from you, I am

Sincerely,

Hardy Parkerson, J.D.

127 Greenway Street

Lake Charles, LA 70605

[email protected]

Read more
Answered on 12/11/09, 2:40 pm


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