Is Filing Personal Bankruptcy for Multi-Member Limited Liability Company (LLC) Allowed?
Call: 888-297-6203 A multi-member limited liability company (MMLLC) can file for a personal bankruptcy say lawyers of Dallas based bankruptcy law firm Recovery Law Group. Moreover, you can also protect the assets of the MMLLC from bankruptcy trustee as they can use them to settle the personal debt. This can take place as assets of an MMLLC are not considered a part of the bankruptcy estate. This can be avoided by getting a charging order which assures that you receive any assets from MMLLC. Most creditors avoid a charging order as along with distributions, you get additional responsibility [...]