I have filed Chapter 7 for my Construction LLC. My LOC with my bank holds as collateral all of my tools. Value is only $6-7K. Thinking of offering to buy back at $1-1.5K.
Lawyer says to wait. Since this is collateral my bank can still take these items. Does it make since to offer low # now or wait?
Bank is small hometown operation and I think they will come after the tools. Need tools to re-establish my ability to work.
Lawyer says to wait. Since this is collateral my bank can still take these items. Does it make since to offer low # now or wait?
Bank is small hometown operation and I think they will come after the tools. Need tools to re-establish my ability to work.