What is the consequence of selling a piece of equipment with a secured loan, but did not pay off the loan, now filing BK. Will this go away or will the secured lender challenge?
I am hoping to just dissolve my corporation without filing bankruptcy, The cost of BK for a business is quite expensive. The corp has no assets so I was told to just dissolve it???? Is this wise or not???
Thank You
My corporation is in default of a loan and the secured item was sold several months ago. I have been making the payments for months but no am unable to continue the payments. The secured items were equipment and no DMV paperwork were required.
Now the companies are requesting I return the...
I have an S-Corp and have several debts. I am wanting to cease business but would prefer NOT filing Bankruptcy on the corporation. I am filing personal BK.
Can I dissolv a corporation in CA with Debt????
I have an installment loan with a piece of equipment listed as the security. I sold the equipment but have not paid off the loan yet. I am still making the payments. What are the legal consequences if I am unable to make the payments and have sold the collateral????