Do I have to attend credit counseling class for business bankruptcy chapter 7?

Asked about 1 year ago - San Gabriel, CA

Dear experts,

I am going to file chapter 7 bankruptcy for my corporation in CA, not an individual bankruptcy. I am the sole owner. My questions are:

Do I have to attend such credit counseling class for business bankruptcy chapter 7, like individual chapter 7?

Attorney answers (5)

  1. Stuart Gregory Steingraber

    Contributor Level 18

    13

    Lawyers agree

    Answered . I am wondering why you are filing BK on behalf of the corporation? Most of the time it is unnecessary and the more important question is did you co-sign any of the corporation debts? If so, you will be personally liable for the debts. Corporations do not need financial credit counseling. Call any other AVVO BK lawyer offering a free consultation if you have further questions.

  2. Carl H Starrett II

    Contributor Level 16

    12

    Lawyers agree

    Answered . I completely agree with Mr. Steingraber. Corporations cannot receive a discharge in Chapter 7 bankruptcy and it rarely makes sense to file a Chapter 7 for a corporation. Also, a corporation does not need to complete any type of credit counseling.

    Talk to a local bankruptcy attorney about your options. Corporations cannot file bankruptcy without an attorney and it probably isn't necessary.

    First, the firm is a debt relief agency according to the U.S. Bankruptcy Code. We help people file for bankruptcy.... more
  3. Sandra Maria Nutt

    Contributor Level 13

    10

    Lawyers agree

    Answered . Do you have an attorney? You are required to have an attorney for a Corporate filing.

  4. Robert Charles Russell

    Pro

    Contributor Level 13

    8

    Lawyers agree

    Answered . No, you do not need the credit counseling certificate for a corporation.

    My response is general information not intended as legal advice or to create an attorney-client relationship.... more
  5. Jonathan David Leventhal

    Contributor Level 13

    5

    Lawyers agree

    Answered . No reason to file unless you have assets. Corporations do not receive a Discharge!

    Jonathan Leventhal, Esq..
    Leventhal Law Group, P.C.
    818-347-5800

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