It’s a possibility that the bankruptcy court technically can take over your shares of a corporation or your percentage ownership of an LLC. The question is really how much property is owned by that corporation and what the value of that corporation is and the percentage of ownership that you have. Whatever that value is, is technically your personal property and you have to account for that just like the rest of your personal property.
The Role of Credit Counseling in Bankruptcy: How It Works and Its Benefits
Credit counseling plays a crucial role in providing individuals with essential financial education, guidance, and support as they navigate the complexities of bankruptcy proceedings such as debt relief and financial recovery. This blog by Klein Law Group will help you...