Business low period set aside money and bankruptcy

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dido

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Business low period set aside money and bankruptcy
« on: August 05, 2009, 06:19:34 PM »
Hi,

I am considering bankruptcy and I run my own business.  This year, I have managed to set aside some money in a savings account to help somewhat cover the low season in my business when I don't make enough to make ends meet.  If I declare bankruptcy then will all the money in all of my accounts be taken?  If so then what does one do during those low season months during a bankruptcy when you don't make enough to pay your bills? Any ideas how it works.

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Nevergiveup

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Re: Business low period set aside money and bankruptcy
« Reply #1 on: January 03, 2014, 12:09:23 AM »
The trustee has the right to take your savings to pay creditors  and  their fees but to be so sure, get a free consultation  with  a trustee  and  they will explain  you the process and what you can keep or not.

All the best

 

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