If I just started a non-profit, how will that affect my filing for a bankruptcy?

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If I just started a non-profit, how will that affect my filing for a bankruptcy?

Asked on July 19, 2011 under Bankruptcy Law, Florida

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 9 years ago | Contributor

If by "non-profit" you mean a corporation, it won't affect your bankruptcy at all.  By definition, non-profits have no saleable value.  The only thing it would affect would be any income you are receiving from it would have to be disclosed and will factor in to your budget analysis for whatever chapter you are filing.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Follow Me on Twitter:  @bklawr

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 9 years ago | Contributor

If by "non-profit" you mean a corporation, it won't affect your bankruptcy at all.  By definition, non-profits have no saleable value.  The only thing it would affect would be any income you are receiving from it would have to be disclosed and will factor in to your budget analysis for whatever chapter you are filing.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Follow Me on Twitter:  @bklawr


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