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We own a very small web hosting business and are considering filing ch 7 in MT. Will they take what little business I have away?

Asked over 2 years ago - Billings, MT

My husband has faced multiple lay offs from being in the mortgage industry for close to 20 years. Each lay off created major set backs for us & we've just not ever been able to get ahead or make ends meet. About a year ago I/we started a small web hosting business
(co-lo meaning we dont own the equipt) the webdesign & programming, IT work all done by me. Customers come and go monthly & to be honest by the time we pay the expenses to run the business, we're often in the red. Would a trustee take that business even though there is nothing really tangable there? Customers can leave at will with no contracts.
I do have a horse... which was given to me. Would they take that as well? my husbands finally working but with all the creditors after us.. were barely making it.

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Attorney answers (1)

Laura Mcfarland-Taylor

Reputation Level 19

Answered over 2 years ago. Trademark Application Attorney in Bolingbrook, IL.

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You really need to speak with a local bankruptcy attorney. Only a local attorney can advise you properly as to what you can expect in your local bankruptcy court. Although bankruptcy is a federal matter, each state has its own rules as well. The National Association of Consumer Bankruptcy Attorneys can refer you: http://www.nacba.com/

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