sclair1224
New Member
Facts:
My ex and I have a store. He's filed (meets with trustee this month) Ch 13. He claims he's not involving the store (don't know what if any truth to that is). MOST of the debt he has is from opening the store, but some of it was to buy investment properties and is on the items he kept in the divorce-I took nothing. The business is an LLC and I own 51%. We haven't made regular payments to our debtors in years. Through the years, we have settled about 65% of the original debt by calling and agreeing on lump payments. The store is failing and I'm the only one working in it. I was paying myself (W2) $1k per month gross when the store brought in enough to be able to afford it after bills.
My question:
Can I legally go and take 50% of the property before he liquidates the assets himself? I'd leave the store in tact to be able to do some business. Only taking things that don't prevent him from continuing the business until he completely runs it into the ground.
My ex and I have a store. He's filed (meets with trustee this month) Ch 13. He claims he's not involving the store (don't know what if any truth to that is). MOST of the debt he has is from opening the store, but some of it was to buy investment properties and is on the items he kept in the divorce-I took nothing. The business is an LLC and I own 51%. We haven't made regular payments to our debtors in years. Through the years, we have settled about 65% of the original debt by calling and agreeing on lump payments. The store is failing and I'm the only one working in it. I was paying myself (W2) $1k per month gross when the store brought in enough to be able to afford it after bills.
My question:
Can I legally go and take 50% of the property before he liquidates the assets himself? I'd leave the store in tact to be able to do some business. Only taking things that don't prevent him from continuing the business until he completely runs it into the ground.