Haven't filed yet..business is not cutting it

[ready2puke]

I want to start a new business and trying to plan my 7 accordingly. How long do I need to wait after I file to open a new business?
Thanks

[Mensa1]

You will want to be beyond your 341 mtg before opening another business. At least this will eliminate any discussion of the new business and ensuing questions that may arrise. In reality you could open a new business the day after filing if it didn't involve a large change in your financial situation. Questions may come up about where the funds came from to start the business, and you shouldn't inccur any new debt in order to start the biz, etc... It would also depend if there were assets involved or if it was a business with little to no start-up costs. All of this is relevant, but to eliminate scrutiny I would wait until the 341 is over and TT does their initial report, assuming no non-exempted assets.

[ready2puke]

Thanks for the reply

For the first couple of months of this new business would probably be a $800 a month or so profit. Not alot but still more than I'm making now.
I would have to borrow the startup cost as that is $3500 most of it is inventory.

Would I have to wait until after the full 60 days after the 341?
I'm not 100% sure that this new business will be successful, but I am anticipating it will within a few months.

[Mensa1]

What is the source of the 3500 of funding for start-up of biz? Keep in mind your aren't supposed to be making changes to your financial situation while in Bk. Maybe it is possible for another party to actually own the inventory until you get beyond the disch?

As far as waiting, I would suggest waiting at least until you are past the 341 mtg and the TT has issued the report of no-assets. Once you get beyond that point it is a matter of the time clock running out, more or less.