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 13 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 13 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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