What can they do to me?

[hatiebo]

No - we're not including corporate debt. I just don't want to involve either company. If they will take my shares, then we can't file bk. I am meeting with a lawyer today.

[2manybills]

I'm not totally sure, but I don't think you will have to include. I've prepared a few (I do document preparation) for some other attorneys I know, and did not include corporation name. Your attorney will know best. Let us know and good luck.

[blockhead]

Those shares you own in your corporation are like any other non retirement account shares. Unless somehow exempted, they are part of the bankruptcy estate.

I had a couple of Corps and they both got thru BK unscathed because the shares had no real worth to anyone. But it is up to the trustee. And he did look into them for assets as is his duty. But if the corp is in the red, he probably would not be interested. Don't forget to include any personally guaranteed personal debt if you do file.

[hatiebo]

Yes, I will let you know! My S-corp is a real estate company, and it does have value (money in the accounts) but it needs to have funds in there to keep the company afloat - pay taxes, overhead, etc.