Legal Question in Legal Ethics in Oklahoma

Business Closing

My husband owns a construction company that is losing money fast. He is now in psychiatric care, and we are in about $100,000 debt, and I am a stay at home mother of six. The books haven't been well kept for at least three years, and I simply cannot do it. What do I do? He has unfinished contracts that we simply cannot afford to finish, and money is owed to customers, vendors, etc. We have discussed bancruptcy, but I can't even find all the paperwork needed to file. Even if I could, it would mean weeks locked in the office, and I can't do that with the kids. I also need to find a way to make money so that I can keep the kids fed. I'm not even sure I have enough money to pay someone to do it for me -- if that would even be possible.


Asked on 3/23/09, 5:34 pm

1 Answer from Attorneys
Marsha Dixon

Re: Business Closing

It looks like you need additional help. You MUST find out moreinformation about how your husband's businessis set up. Even if you are considering bankrupcy. If he is set up as a sole-proprietor, more problems and other factors to consider. If he is a corporation, he may have some protection against liability. It is also important to determine he included you in his business as a partnership and how he filed his paperwork. You can start with the Oklahoma Secretary of State. They would be able to determine his status by using the name of the business. Either way, we will need more information before you can act or before we can help you. If you need help, please feel free to let me know. I can at least help you find out the legal status of his business and give some guidance on how to proceed.

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Answered on 3/25/09, 5:17 pm


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