It’s a possibility that the bankruptcy court technically can take over your shares of a corporation or your percentage ownership of an LLC. The question is really how much property is owned by that corporation and what the value of that corporation is and the percentage of ownership that you have. Whatever that value is, is technically your personal property and you have to account for that just like the rest of your personal property.
Filing for Bankruptcy During the Holidays: What You Need to Know
The holiday season is often a time for joy, celebration, and togetherness, but for those facing financial hardship, it can also bring stress and uncertainty. Struggling with debt during a time that’s meant for giving can feel overwhelming and emotionally draining. For...