@mustangy wrote:
i have corparation i m the only owner and only worker. i did establish this corp in new york because the limo company i work for ask for corparate account .
and now after accident (rear ended but insurance paid only damege) about 90 days out of work and now can not pay even minumum. corparate account is capital one and its already negatif 1300.00$ balance (most is fees and returned check some check are 25$ but fee is 35$)
what i can do now if file personal bankcrupty still i have to file another for corp?
Are you contemplating filing BK over a $1300 negative bank account? It really is the wrong way to handle the shortfall. Even if you were $13,000 in debt - it still would be the wrong tool to take care of your debt. Even if you were $30,000 to $50k in debt it would be questionable to file Bk. But the measure would be what is your capacity to earn income?
I am all for Bk in the appropriate circumstances. A BK will hurt you more than help you if you file over small amounts. Bk's are a long term solution and what you have is a very short term problem that can be fixed much more quickly and with better results than a Bk.
Work out a payment arrangement with the bank for your negative balance. I know you said you haven't worked for 90 days now so you must be incurring additional debt. It wouldn't help you to file Bk while you are still unemployed. Are you injured or are you able to work?
