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    brenda roland's Avatar
    brenda roland Posts: 1, Reputation: 1
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    #1

    Jan 13, 2009, 07:46 AM
    Filing bankruptcy or letting them forclose
    I have investment property in Arkansas , in which I can no longer make the payments, the loans are in a llc corp. . If I forclose on these 2 loans will they be able to take any of my other investments, I have a house in Florida in which is in a the 1031 until march 16, and I also have a gulf access lot in Florida that is paid for. What can they take from me
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jan 13, 2009, 08:20 AM

    Welcome to AMHD. You need to do some basic research on bankruptcy. You may not be personally liable for the debt of a LLC, unless you co-signed or guaranteed payment. I don't understand what you have written about the Florida house. Bankruptcy will work for you, if you need it; but use it as a last option because no one will look after your property better than you. United States Bankruptcy Courts
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