top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Start a business?

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Start a business?

    Hi,
    I may be close to closing on one of my rental properties with an equity return of $20k. I know that i can spend this money on necessisties and home repairs, including replacing old windows on prim res. But, do you think I would be able to use this money to start a new business with the hopes of avoiding bankruptcy? Or would this be an issue if i filed in the future (6mo-1yr)?
    thx
    -tk
    Tags: None
    #2
    At this time you are not obligated by any rules of bk. You can start your business. If it does not take off, then you have to bk the business first, I'm not sure how that goes. I doubt that the Trustee would object for a good faith effort. Make sure you keep it business though and keep good books. 20K is not much for a business. What kind did you have in mind? 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

    Comment

      #3
      Thx for the info - me and wife were looking into starting a salon hair supply shop with a good friend who already owns a salon.

      Comment

        #4
        Do you have a storefront? Unless you also have a hairdresser, how will you lure customers? Might try eBay also. I wish you both good fortune. 'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

        Comment

        Previous template Next

        bottom Ad Widget

        Collapse
        Working...
        X