Can an llc declare bankruptcy?

Answer An LLC, or limited liability company, can file for bankruptcy. LLCs are popular because they offer limited personal liability to the owners of the company. Owners, however, need to be sure they hav... Read More »

Top Q&A For: Can an llc declare bankruptcy

How often can you declare bankruptcy?

You must wait eight years between Chapter 7 filings and six years between a Chapter 7 and a Chapter 13 bankruptcy. You can file Chapter 13 every two years or four years after a previous Chapter 7 f... Read More »

Can I declare bankruptcy on a car loan?

According to, you can file bankruptcy on a car loan. You surrender the car to the bank, and the bankruptcy discharges any additional or deficiency balance on the loan.Source:NHBA: What... Read More »

Can anyone declare bankruptcy?

In general, the only main requirement for filing bankruptcy in the United States is that you must be a United States citizen. Exceptions are made if you own real property on United States soil, or ... Read More »

Can states declare bankruptcy?

States cannot file bankruptcy under any chapter of bankruptcy law. Chapter 9 only allows towns and cities to file, according to Slate Magazine. When a state cannot pay its bills, it goes into "rece... Read More »