It looks like I will be filing near the end of next week and, after all that I have read here and elsewhere, I'm still confused.
I have confidence in my lawyer (he has 30 years of bankruptcy experience, both business and personal and was recommended to me by another lawyer), but don't quite understand what he's doing.
He said because so much of my debt is business debt, I don't have to worry about the means test. That part I understand.
Next, he is asking me only to supply bank statements from my personal account, not my business account. He said that me, the person, is filing bankruptcy, not the business. I still have to provide check stubs from checks received from clients, and have also had to provide P&L statements for the past six months. But I still don't understand why the $$ in my business account isn't relevant. (I'm a sole proprietor with an LLC.)
Given what I have read here about how important it is to not have much $$ in your bank account on the day you file, I am really confused about why my business accounts aren't being taken into consideration.
Does anyone understand this??
Thanks to anyone who can shed a little light . . .
I have confidence in my lawyer (he has 30 years of bankruptcy experience, both business and personal and was recommended to me by another lawyer), but don't quite understand what he's doing.
He said because so much of my debt is business debt, I don't have to worry about the means test. That part I understand.
Next, he is asking me only to supply bank statements from my personal account, not my business account. He said that me, the person, is filing bankruptcy, not the business. I still have to provide check stubs from checks received from clients, and have also had to provide P&L statements for the past six months. But I still don't understand why the $$ in my business account isn't relevant. (I'm a sole proprietor with an LLC.)
Given what I have read here about how important it is to not have much $$ in your bank account on the day you file, I am really confused about why my business accounts aren't being taken into consideration.
Does anyone understand this??
Thanks to anyone who can shed a little light . . .