Personal Bankruptcy?

[Mbush10]

Hello,

     I'm debating on starting the process to file personal bankruptcy. Should I change my DBA to an LLC first to not affect the company? Should I put the DBA/ LLC in my husband's name for now?

[tagteam]

You really should consult bankruptcy counsel.

See https://www.avvo.com/bankruptcy-debt-lawyer.html

[kthomasusa1]

You might want to review the bankruptcy laws regarding the transfer you are contemplating. Frequently, if assets are transferred before filing bankruptcy, the trustee may be able to get the assets back and liquidate them to pay creditors. Probably best to get advice from your bankruptcy attorney. 

Good luck to you in this most likely very stressful time.

Kelly C, CPA