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I had a S corp business I had to close,am being sued for business debts,I cant afford an attorney,what do i do?

Lake City, FL |

Approx.Debt in entirety is 450,000 incl morgages..Property for sale now.Need to file bankruptcy but do not have the funds.

Attorney Answers 4


  1. The real issues here revolve around how, exactly, all this debt was incurred - you say that there is a mortgage involved. Did the S-Corp, itself, assume that liability, or did you have to personally guarantee it (I'm guessing that's the case - few S-Corp's have debt solely in their name). You'll need to consult with a bankruptcy attorney - this is too complex to try to resolve on your own.

    We can be reached at 507.334.0155 (Toll Free: 888.777.5009). Our web address is: www. corbin-law-office.com. Answers on Avvo are not to be considered a response to a specific legal issue in a specific jurisdiction - they are to be considered only general responses to hypothetical scenarios posed by the questioner. For specific legal advice, please consult with a licensed attorney in your jurisdiction. No information contained herein should be construed as a solicitation for business, an offer to perform legal services in any jurisdiction in which the attorneys of Corbin Law Office are not licensed, or the dissemination of legal advice. No creation of an attorney-client relationship should be assumed or implied. We are a debt relief agency. Corbin Law Office helps people file for bankruptcy relief under the bankruptcy code.


  2. Sounds like you can't afford not to have any attorney. Talk to family and friends about giving you an early holiday gift to resolve this problem, because the longer you wait, the more you will suffer and the more it will cost to resolve these problems. Hope this perspective helps!


  3. Sorry for your situation.

    The bottom line is you can't afford NOT to have an attorney. You need a firm that handles personal and business bankruptcy. You may also need someone to handle a short sale or foreclosure. Not having an attorney now just means you will need one later to try to clean up the mess after the fact which may end up costing you more.

    Answer does not constitute legal advice. (727) 471-0039 or arauman@protectyourfuture.com, This answer is provided for informational and/or educational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Adam is a Florida Attorney practicing in areas of Estate Planning, Elder Law, Trusts, Probate, Guardianship, and Business Law. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.


  4. Make sure you submit an Answer to the law suit and appear before the Court for scheduled hearings. Just because you do not know how the system works, you will not be forgiven by the Court.

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