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    fufranklin's Avatar
    fufranklin Posts: 6, Reputation: 1
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    #1

    Feb 11, 2010, 02:11 PM
    Can I file personal bankruptcy woithout disclosing stocks I own in a company that will
    Considering personal bankruptcy,however I own shares in an S-Corp. Do I have to disclose that in personal bankruptcy,the bankruptcy has nothing to do with the business ,it's all personal,credit cards,home mortgage,etc. Thank You
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #2

    Feb 11, 2010, 02:14 PM

    You are required by law to disclose any and all assets. If found out your bankruptcy filing will be dismissed. You need to consult with a bankruptcy attorney for filing requirements and any exemptions available to you.
    fufranklin's Avatar
    fufranklin Posts: 6, Reputation: 1
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    #3

    Feb 11, 2010, 02:16 PM

    Considering personal bankruptcy,however I own shares in a S-Corp.Do I have to disclose that in personal bankruptcy,the personal bankruptcy has nothing to do with business. Any suggestition? Thanks
    fufranklin's Avatar
    fufranklin Posts: 6, Reputation: 1
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    #4

    Feb 11, 2010, 02:20 PM
    Can I transfer my shares in S-Corp then file personal bankruptcy? Thanks
    fufranklin's Avatar
    fufranklin Posts: 6, Reputation: 1
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    #5

    Feb 11, 2010, 02:21 PM
    Can I transfer my shares in S-Corp,then file personal bankruptcy not related to S-Corp?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #6

    Feb 11, 2010, 02:50 PM

    You cannot transfer shares and then file bankruptcy. You will have to transfer shares and then wait at least 6 months or more otherwise you will have to disclose the transfer of shares.

    Please consult with a good bankruptcy attorney so you can avoid having your filing dismissed.
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