Legal Question in Bankruptcy in Maryland

Re: Filing coperate bankruptcy

Decisions about whether to file corporate bankruptcy are difficult and require extensive discussions about the nature of your business, the particular types of assets and debts, your plans for the future, your personal obligations for corporate debts (guarantees, co-signatures, etc.); loans owed by corp to you; ability to raise other capital, and many other questions.

You will need to sit down with a competant bankruptcy attorney to answer the question of whether or not to file.

As for the effect of a corporate bankruptcy on your personal credit, that too will depend on the facts (whether you own any property jointly with the corp; co-signed any debts or guaranteed any debts, etc.).

Please feel free to contact me if you would like to explore further in more detail. I can be reached at the numbers listed below.

Lawrence R. Holzman, Esquire

Joseph, Greenwald & Laake, P.A.

6404 Ivy Lane, Suite 400

Greenbelt, MD 20770

(301) 220-2200

fax (301) 220-1214

Disclaimer: Please note that the posting of this response is not intended to constitute legal advice. You should contact an attorney to obtain information applicable to your situation. This posting is not confidential or privileged and does not create an attorney/client relationship.