Biz Owners: How involved is the trustee

[goingcrzy]

Hello all-

Hubby and I have a small business set up as a LLC. We are the only owners and employees.

Under a 13, how involved is the trustee with the business? Can you still get credit using the business tax id, if it involves the normal course of business?

[falken]

The business is an asset of yours (and any assets the business has).

How much ongoing information you have to give about the business seems to vary by district.

Should not be a problem getting credit under the business name as long as it does not require a personal guarentee. So, for example, keeping NET30/60 with your supplies/vendors/etc should not be an issue. Your chances of getting any amount of substantial credit without a personal guarentee is almost impossible.

In theroy the trustee could authorize you to guarentee additional debt for your business(unlikely), but considering you are in BK your credit wouldn't be much help in securing additional credit anyway.