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Asked in Louisville, KY Apr. 30, 2020 ,  3 answers Visitors: 115
What is the risk of filing Chapter 7 as a single owner LLC?
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3 Answers

Anonymous
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Posted on / May 02, 2020 07:35:51

The LLC is an asset that belongs to you and the trustee can sell it if it has any other value.

Anonymous
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Posted on / Apr. 30, 2020 19:16:43

In Kentucky since you own the LLC solely it is solely your asset. A Trustee may be able to sell assets of the LLC. If the LLC had other members this is generally not possible for the Trustee.

Anonymous
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Posted on / Apr. 30, 2020 12:49:55

Are you speaking of the risk to you, or to the LLC? Are you filing personally or filing the LLC? or Both? or seeking joint administration.

I would suggest that you visit a good BRKTY lawyer to get specific answers to your particular questions.

Good Luck

d

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