I have been searching to find an answer, and figured to ask here too. If you are in an active Ch 13 bk, can you start a side business via a LLC, sole prop, etc?
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Ch 7 filed 8/15/11 341 9/22/11 Discharge 11/28/11
The rebuilding begins
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Probably an iffy situation because the trustee would be very interested as to any funds that are obtained to start this business and also permission is needed from the trustee for any sort of credit or other financial ventures taken on during a Chapter 13. Also income generated by any business during a Chapter 13 is additional income during the plan and would need to be reported. Talk with your attorney. I am sure you will be advised to wait until after you are discharged._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
I am in a 13, also. However, I am already self-employed and I asked my attorney if I could add an additional venue, renting a booth at a place that caters to people in my industry, in addition to my online and mail order business. (No long term commitment is required at the place where I would rent this space.) Anyway, my attorney said that it would be a great idea.
You should probably ask your attorney, but maybe depending upon the type of business it would be O.K. if there wasn't a lot of startup costs. That you could start the business out of practically nothing or your already existing assets.Comment
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