A business owner of an LLC contractually owes me about $20,000. This business owner filed for Chapter 7 Bankruptcy after I had taken him to common pleas court civilly to pursue collecting this debt. However, on his bankruptcy filing he did not list an asset which is valued at $300,000 which is in both his personal name, and the business's name.
I thought most assets were not exempt from being listed on bankruptcy filings? Should I inform the trustee of this? This asset is a piece of property owned by this debtor but is not his residence.