And thanks to this forum, I was very well prepared. We have set a filing date for December 8, and will be ready. No means test required, and a lawyer that is on top of his game. Told me that if anyone gave me any grief, give them his name and number. That would shut them up.
Most everything went as expected, however we are going to Chapter 7 our S-Corp too, and that's a whole different ball game.
I had always thought that a corporation was the magic pill for most problems, however it is not when filing for bk. Corporations have no exemptions and everything in them will be liquidated (if not abandoned).
So the moral of the story? Don't let your corporation own the vehicles. Own them personally, and lease them to the corporation. Lesson learned, and it's going to cost me some $$$.
Overall, I'm happy. 3 million dollars plus heading towards never-never land.
Never thought that being so broke could feel so good........
Most everything went as expected, however we are going to Chapter 7 our S-Corp too, and that's a whole different ball game.
I had always thought that a corporation was the magic pill for most problems, however it is not when filing for bk. Corporations have no exemptions and everything in them will be liquidated (if not abandoned).
So the moral of the story? Don't let your corporation own the vehicles. Own them personally, and lease them to the corporation. Lesson learned, and it's going to cost me some $$$.
Overall, I'm happy. 3 million dollars plus heading towards never-never land.
Never thought that being so broke could feel so good........
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