Sorry if I ramble on this post. Just wanted to talk about my 341 and entire bankruptcy experience.
341 was so easy. I had made myself sick with anxiety even though my lawyer kept saying it wasn't going to be a big deal. He was very unconcerned about the meeting.
For context, I was filing a Ch 7 with no assets, debt was around $37k. I'm single, no kids, and I'm in the Western District of Texas. I hired a lawyer too.
The things I was worried about:

1. Haven't filed 2023 taxes (filed an extension) because I already owe $1400 from previous years and I will owe a little this year.
2. I have a tiny side biz with an LLC. Hobby business with next to nothing in revenue.

I thought the trustee would make me file 2023 taxes before moving for a discharge and I thought I would have to answer a bunch of questions about my business - I've never done any bookkeeping or filed taxes for it. Chase also closed my biz cc as soon as filed and I wasn't expecting that.
As for both those concerns, he asked if I had file 2023 and I said I filed for an extension and he said that's ok. He didn't ask me one thing about my LLC.
I was last to go today in my group. He asked the same questions for everyone and didn't ask anything extra except for two people - one woman put she was owed $20,000 by an ex and he asked about that but once she explained she had no legal recourse to collect and the ex had disappeared, he just said ok. The other guy had a Robinhood account and he listed the info for it as unknown so the trustee asked what was the most you ever had in it and when. He answered $7k that he withdrew in 2021.
I have never looked at Pacer - just seemed too stressful but do understand it's helpful to those who are filing pro se.
I also found this group helpful and stress inducing. It's so easy to hear other people's situations and think it will happen to you.
I worried about my monthly budget after reading that people had to move to a Ch 13 because of this. I'm well below means test but I'm staying with family and was worried that I had extra money in the eyes of the bankruptcy court. I pay for most of the groceries and truly don't have any money left after each paycheck but was worried my budget wouldn't be accepted. My lawyer listed several hundred dollars as contribution to household in lieu of rent and nothing was brought up today. My attorney did put $50 for my 8 year old rescue pitbull. She has cost me probably $10k over the years. Lol.
I couldn't have imagined doing this without a lawyer. It took me close to 5 months to get all the money together to pay him. I put a deposit down in October and filed March 29th.
Fingers crossed I don't hear anything the next 60 days and I'm discharged in July.
If anyone had any questions about my experience, I'm happy to answer! Having this community and support is very important!

TLDR; At 19, I decided to pursue entrepreneurship to build products that bring joy and contribute meaningfully to the world, inspired by my immigrant parents' sacrifices and success stories. My background includes a transformation from a game-obsessed teen to a driven entrepreneur. After a breakup during my sophomore year, I channeled my energy into learning new skills, losing weight, and starting my first company—a social network for goal sharing. Despite many mistakes and pivots, I gained invaluable experience. Now, I'm developing an app to connect early-stage entrepreneurs and am determined to succeed, even after recent setbacks with a cofounder leaving and an accelerator rejection. - ChatGPT

I'm 21 years old, and I'm turning 22 in a few months.
I decided less than two years ago to pursue entrepreneurship to build products that would make people so happy to use, so that I'll have made a genuinely valuable contribution to the growing world and flip my old hedonistic ways.
This is not one of those stories about bankruptcy to riches, but something more relatable for the young budding entrepreneur who has gone through a life changing event - it might seem naive to the more experienced who have been there done that, but real for us now.

Family Background

I come from a middle class family of immigrants who escaped their dictator-run country when they were in their 20's in hopes to put their child through college. They worked for over 25 years to scrimp and save the money for all four years of classes. My father started a wholesale furniture business with some brothers and $0 to their name in the deep countryside of Vietnam; 20 years later they're making three million in ARR and I'm proud of him. My mother is a senior accountant at a big firm, and was moved from foster family to foster family as a young teen to complete her associates degree at UMass Amherst.
I don't have that kind of a story, but I want it. I come from a more privileged place because of them, but I still yearn for my own success story that carries the same weight.

My Background

I was obsessed with playing video games. I was on the computer by 5am before the bus arrived at 7 to pick me up, and I was back on it for another few hours after school. During winter and summer breaks I would play all day every day. I was a fat, lazy, computer-addicted 200lb 5'7", chips-gulping kid, and I somehow was still able to get a girlfriend, haha.
It was 2020 in March when quarantine periods were announced. I had the idea to build an MMORPG Minecraft server (called SiegeRPG), and I learned a lot of skills in just one year: design, leadership, people management, java/kotlin programming, blender modeling, many more. By 2021 I lead a team of 60 volunteers, with 100k unique players and a few thousand in profits. I started my University's Minecraft club in my 2nd semester of college and quickly brought it up to 300 members.

My life-changing Event

That girlfriend I had in highschool found a guy friend she got close with --too close, and subsequently broke up with me in my 2nd semester of sophomore year; she said we were incompatible. It makes me chuckle looking back on it now, but I know at that time that was the most hurt I'd ever experienced. I cried in bed for weeks and didn't go out for days. I was a mess, and I learned the guitar to hopefully get her back. I was REALLY down bad.
I'm glad I decided to be proactive... I don't think I would have picked up the guitar if I hadn't made my Minecraft server or club, and missed out on the thrill of building something from nothing. I probably would have continued to be someone to pity like I had been in the many years prior. My small decision to learn the guitar at that point in time struck a chord in my brain and I kept wanting to play.

My wins

Over the next year I dropped 40 lbs -my abs were showing for the first time! I got my first job, my first car, dressed nicely, took up boxing, and learned dozens of skills and earned certificates that would help me develop a business one day. By my junior year I left gaming behind me and I haven't touched it since. The Minecraft server was discontinued, and the club was handed to a new president, who has since raised it to 600 members :)

Why entrepreneurship?

I naturally leaned into entrepreneurship for the allure of it's erratic lifestyle. I saw the discomfort, fears of instability, bankruptcy, and depressions, and I said I want that. My father's story of building his business from 0 to 1 with two children and two full time jobs was filled with these moments. I was witness to them all. I wanted to pursue this lifestyle of scary growth and failures, akin to my sudden break up and "glow up" period. I wasn't naive to the struggles of building a startup, oh, but I was.

My first startup

In my junior year of college I started my first company, a social network to share life goals and hold your peers accountable. I made EVERY single mistake that first-time founders could possibly make. Here's 10 pieces of advice for young founders:

1. Researching articles online isn't enough to validate a need for an idea. Go talk to actual people who have the problem you believe they do.
2. Have a good balance of pessimism and optimism. Be critical of your own decisions.
3. Don't start an LLC when you haven't made a good bit of money that proves you're solving a real problem.
4. Just don't bring in volunteers to help you; they will add more management that you shouldn't be handling as a young founder. If you're looking for help, look for cofounders.
5. Learn everything by hand now. If by small chance you're getting traction, you'll need to learn those skills anyway. Don't bother paying for outside assistance.
6. Be frugal and resourceful.
7. Reach out for mentorship, participate in entrepreneurial communities, build a personal brand that people will know you for; this will come in handy.
8. Start with a problem you have, see if at least one person will pay for a solution to that problem, design a solution and get a resounding yes from your user, build the MVP, get more users.
9. Shut up about I am "X", so I can't do "Y". Are you an introvert and you're afraid to talk to people? Too bad, learn how to sell or never get a sale - your choice. Are you non-technical and your startup requires some coding? There are so many resources out there for you.
10. Many, many, many, of you have the ability to set aside time for meaningful personal development, but will opt on saying that time doesn't exist for you. That's a way of phrasing a false reality that will help you feel comfortable and ignorant of a more productive reality. Do you actually want to be an entrepreneur? That comes with the good and the bad.

By the end of my 1st semester of senior year I had pivoted 10 times. Every week during that semester I was experiencing lows and highs. In the beginning I built a team of 12 and an MVP before I had talked to a single potential user in person. I even started an LLC and wasted money on legal contracts. My first mentor showed me some reality by asking just one question, and I couldn't answer it adequately enough, "Who is your target user, and why would they use it?"
Over the next 3 months I had over 200 15-minute interviews with users for different solutions I pivoted to, and by the end of it I was trying to solve for a completely different idea that I didn't really care about - helping students get the skills to succeed in the job market.

My current venture

I had a few projects come and go from January 2024 to March 2024, but this recent one I'm working on has stuck with me. I wanted to bring together founders in a networking event on my college campus. I hosted one in early March and 12 people came together and talked for over 2 hours about their experiences. We all exchanged phone numbers, and they asked me to host another one - so I planned one in April and 25 people showed!
My vision for this venture is to help early-stage entrepreneurs collaborate on startup issues genuinely and authentically. I've tested a few different ways about doing that and I'm now developing an app to facilitate week-long masterminds.

Where I am

I've been working minimum 12 hours a day, from 8am to 11pm most days. I don't have a job if you discount my startup work, and I'm living with my mother. Now I'm getting closer to reality and what I've asked for from the entrepreneurial life style when I started. I'll have a story worth sharing.
I initially wrote this post to vent about how my third cofounder left yesterday - and with it my plans to move to NYC to room with him, and how I was looking forward to moving out of my mother's to join an accelerator in Florida for the past 4 months, but they didn't want to fund me yesterday too.
When I started writing this post I wanted to give some context into this current predicament I am in, but now I realize that I'll be okay. Sometimes things don't go as you planned them to be 100 times in a row. You have to get back on your feet. Maybe this is why, "never give up" is cliche - because it's been advised many many times.

???

My mother and I have a very small partnership LLC. Our taxes for last year did not get filed and so I’m scrambling to get that fixed. I’ve been in the position before and the IRS has sent me a $250 fine per month per member, and since I’m two months behind, that’s not good. Last tax year we had a lot of write offs but only made about $1000. A majority of the money is coming in this year off of jobs from last year. There are no paid “employees”. My son does some jobs for us but to get things off the ground he does them for free. It is like 400-500 dollars to do this return at H&R or my mom’s “family” accountant. I still have to file though right? Is there a certain business income you have to make to file? Should I put my son as a contractor, even though right now, he doesn’t collect a fee? Usually taxes are pretty easy for me, but this year there are a lot variables. I would like to remove myself from the business temporarily, as I am engaged aged in an overpayment dispute with Social Security and also filing a personal bankruptcy. Someone said that they would count the income from the company, even though I’ve never collected anything from it, because it’s never started to roll until late last year. This year were projected to make about 10 to 15,000. Still not a whole lot advice would be very welcome and answers to questions until late last year. This year were projected to make about 10 to 15,000. Still not a whole lot. Any advice would be very welcome and answers to questions, even more so:-)

The success of traders is not always easy, since there are hundreds of losses behind. Their lives are marked by both triumph and drama and surrounded by money, speculation and fortune.
We prepared a list of the most famous market makers, including legendary traders in history and modern day traders. Learning from mistakes, thinking ahead and being flexible has helped them become successful traders. Keep reading this article to be inspired by their great feats.

1. George Soros

George Soros, alias "the man who broke the Bank of England," was born in 1930 in Hungary. Being Jewish, he survived the Holocaust and fled the country at the time. He is one of the most popular and famous traders in the world. In England, Soros worked as a waiter or railway porter before graduating from the London School of Economics. This led him into the world of banking when he rose to the position of merchant banker at Singer & Friedlander.
With the help of his father, he moved to the United States to work at a Wall Street brokerage firm. Following his successful results at several firms, George created his hedge fund in 1970, called "Quantum." There he rose to fame.
In 1992, Soros made a huge bet against the British pound and made one billion US dollars in just 24 hours.
Quantum accumulated £3.9bn, and Soros borrowed more to raise a total of £5.5bn. But sterling began to fall. Soros then shorted the £5.5 billion against the German mark on September 16, also known as Black Wednesday. This contributed to the fall in the price of the currency and forced the United Kingdom to leave the European Exchange Rate Mechanism.
The result was one of the fastest billion dollars anyone has ever made and one of the most famous trades in history, which later became known as “the Bank of England collapse.”

2. Jesse Livermore

Jesse Livermore's life could serve as the basis for a movie story. Born in 1877, he was destined to be a farmer, but ran away from home to become a multimillionaire. His story is wrapped up in money, lovers, bankruptcy and scandals.
At a young age, Jesse Livermore learned to read and write, became interested in news and economics, and learned to analyze prices. With experience, he mastered detecting trend reversals and popularized modern technical analysis. Livermore was one of the first to use stop losses, a risk management tool that traders still use today.
Jesse made his first $250,000 selling stocks just before the San Francisco earthquake. In 1925, he made US$3 million by shorting wheat. He then made about $100,000 in profits by short-selling American stocks before they crashed in 1929. One of the richest and most successful traders of his time, Jesse earned the nickname “The Gambling Boy.” .
However, Jesse went through several bankruptcies. He managed to get back on the market in the first two cases, but the third bankruptcy was fatal. He made a mistake and lost all his money in 1929.
Combined with family tragedies, stress, and other failures, Jesse Livermore realized he would never be able to operate the same way again. In 1940, he shot himself to death.
By the way, her son Jesse Livermore Jr. fell into the same habits as his mother, who suffered from alcoholism, and took his own life in 1975. This happened while he was drunk, after shooting his beloved dog and trying to shoot a police officer.

3. William Delbert Gann

If you are a trader who practices technical analysis, you have surely heard the name of WD Gann and his trading theory. William Delbert Gann was born in 1878 in Texas, the first of 11 children in a poor family dedicated to growing cotton. He did not finish primary or secondary school because his parents expected him to work on the farm.
Gann believed that the Bible was the best book and obtained most of his education from it. Her writing style is full of mystery, esotericism and an indirect style that many find difficult to follow.
However, Gann created powerful technical analysis tools such as Gann angles, the hexagon, the 360 ​​circle, the 9 square, and many more. Most of them are based on ancient mathematics, geometry, astronomy and astrology, and are widely used by traders today.
Critics claim that there is no real evidence that Gann did not make profits from investments in the market and that he made money selling investment books and courses. It is unclear to what extent WD Gann became rich from his trading analysis, but when he died in the 1950s, his estate was valued at just over US$100,000.
But the amazing thing is that, a hundred years ago, Gann created trading rules, ranging from basic money management principles to mind games, that still apply.

4. Paul Tudor Jones

Paul Tudor Jones is undoubtedly one of the greatest stock market insider traders in history, with an estimated net worth of around US$7.5 billion.
After graduating from the University of Virginia in 1976, Paul began trading cotton futures on the New York Cotton Exchange. As a curious fact, he lost his job because he fell asleep at his desk after a night of partying with his friends. Paul then worked as a commodities broker and, in 1980, he founded his investment and trading company, Tudor Investment Corporation. The fund managed to achieve a 100% return during its first five years, which is a surprising fact for today.
Paul's biggest prediction was the market crash of 1987, known as Black Monday. Thanks to his accurate prediction, Jones made about $100,000 in profit instead of losing money.
Paul Tudor Jones developed his own trading strategy, which helped him be successful. His main rule is to be consistent and not expect quick money. His great risk management skills and realistic expectations of his possible operations allowed him to have a stable income.

5. Jim Rogers

From his youth, Jim Rogers had business acumen selling peanuts and used plastic thrown away by baseball fans. He graduated with honors in History and obtained a second degree in Economics from the University of Oxford. Currently, Rogers' estimated net worth is over 300 million US dollars.
In 1964, Rogers joined Dominick & Dominick, LLC on Wall Street, where he traded stocks and bonds. But from 1966 to 1968, Jim was in the Army during the Vietnam War.
Two years after his military service, Jim joined an investment bank where he met his partner George Soros. In the early 1970s, they co-founded the Quantum Fund, which gained an impressive 4,200% in ten years.
The biggest skill that helped Rogers become a successful trader was his ability to make clear forecasts. In the 1990s, he was right in his bullish forecasts on commodities. Jim has also criticized the inability of the Bank of England and the US Federal Reserve to fight rising inflation, warning that it could worsen before stabilizing.
When he retired, Rogers embarked on a three-year tour of 116 countries in a custom-built Mercedes. He broke the world record for the longest car trip made uninterrupted. He also wrote books detailing his adventures.
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Can someone explain the means test if you just started a job? Specifically - I just started a new job that puts me above the means test if you take 'current monthly income'. However, if you look at income for the previous 6 months it is obviously well below (aka zero), as I just started the job.
Also, how about the follow up tests? What constitutes 'business debt'? Can I include the interest on cc for 'business debt'?
How does my LLC file bankruptcy?

Some context: I started a crypto mining business at the end of 2021. In the beginning, I sold crypto miners and various electrical equipment to those who wanted to mine bitcoin and other cryptocurrencies. Obviously, the sales stopped coming in once crypto prices plummeted and by the end of 2022, I was stuck with a bunch of miners that were a tenth of the price they once were. Unable to pay my debts with business cash, I decided to start paying with my personal money ever since. I still have around $20k in debt, but I can’t keep paying with my personal finances.
I know I should not have been doing this as I filed as an LLC, but I didn’t know what else to do at the time and was scared of bankruptcy. To make things even worse, I moved states so I’m not even in the same state that the LLC was filed. I don’t even know who to contact to get information about bankruptcy or debt management. I just want to be done with my business. Is there any hope for me to get out of this? Since I’ve been paying the debt with my own personal finances, am I now personally liable for the debt? I’m in a tight spot financially and cannot afford to keep paying off my business debt. Any help is welcome.
For now, I’ll just be over here crying in my corner.

I saw this tiktok post about how one could open an LLC, take out a loan, pay themselves, and file bankruptcy. I was debating this with a friend to see why it does not work. This is obviously morally wrong. So, does this method actually work? Asking for the debate I’m having with my friend.

Took out a $141k EIDL loan in 2020 in the name of the business LLC and no PG. Business shuttered with no assets other than remaining EIDL loan balance sitting in my account. My LLC is still in active status and current on payments to the SBA. Wondering if anyone is in a similar situation and can give advice as to what they’re doing next to put this behind them. Is corporate bankruptcy the best route? I understand I will personally be listed on the CAIVRS database.
correction business is filed as an S-Corp not an LLC

My brain hurts, and I can't think anymore. Thank goodness you are so good at teaching - def. your super power. Thank You!!!!
from the end of a longer article that I will post separately -
"...... Hudson Bay had Bed Bath incorporate “blockers” into the documentation for some of the securities that theoretically precluded the hedge fund from owning more than 9.99% of the retailer, according to the complaint. But the lawsuit alleges that Bed Bath never enforced those blockers — in part because it had no incentive to do so, given the retailer’s desperate need for the cash generated by converting Hudson Bay’s preferred shares. The retailer also had no mechanism to enforce the blockers, the suit alleges.
“The sole purpose of the blockers was to help the Hudson Bay defendants sidestep the disclosure and disgorgement obligations” of federal securities laws, the complaint claims.
The hedge fund had included the blockers as a means of avoiding disclosure of its involvement in the financing, according to the lawsuit. *Hudson Bay was allegedly concerned that it would become a target of meme stock traders who had ganged up on hedge funds such as Melvin Capital Management after the firm’s founder, Gabe Plotkin, bet against GameStop Corp., another meme stock.
\**********(hahahahahaha ..... dumbasses - picked the wrong folks to p.o.)*
The preferred stock and warrants enabled Hudson Bay to obtain Bed Bath common shares at a “significant discount,” the lawsuit alleges. At the time of the offering, the suit says, Hudson Bay paid $202.5 million for securities permitting it to acquire, at no additional cost, $445 million worth of common stock.
Hudson Bay proceeded to submit 106 original or revised conversion requests to Bed Bath between the February 2023 offering and the bankruptcy three months later, the lawsuit alleges.
“This shambolic crush of paper” along with “funny math” employed by Hudson Bay, the lawsuit claims, almost guaranteed that mistakes would be made and the 9.99% cap would be breached.
The case is 20230930-DK-Butterfly-1 Inc. v. HBC Investments LLC, 24-cv-3370, US District Court, Southern District of New York (Manhattan)."

In the new case staring Hunter and the Plan Man in, 20230930-DK-Butterfly-1, Inc. v. HBC Investments LLC et al - we find ourselves tied up again with issues with Section 16(b). What are the odds?
.
Jake2b shifted the narrative originally where he posited he found RC and sought counterpoints to this idea. Jake has since come out and said it appears he may have been mistaken as the new case paints HBC in a bad light but he knows something doesn't sit right with this new case.
.
On the last regular PPshow, Jake points out 16(b) is really about clawing back profits. With some quick back of the napkin math, the deal for the instruments cost HBC $350M, plus in the June 10K, HBC overpaid for their shares by over $172M. This would means HBC would have to make ~$822M. ABC pointed out that the share price at the time of the offering doesn't seem to lend itself to making this much of a return. Personally, I'm not sure if the initial instrument cost could be tied to the calculation or the details on the 10K but in any case, HBC seems to have profits and the Plan Man seems to know how much is involved.
.
Note, HBC are not being punished for having over 10% beneficial ownership, just for making money out of it while tripping on 16(b). According to the case doc, HBC took on 444 million common shares, over 3.7 times more than the initial outstanding amount of shares at around 117 million. The crux of the issue comes down to excluding future conversions (60 days) from the percentage calculations and seems like a rookie mistake as the text is plain (according to the Plan Man). Almost like it was made on purpose or HBC were unaware the proxy they were dealing with already had shares, pushing them over the limit. What is with all these redactions too. Hmmm...
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Now, were those shares dumped on the market, or were they sold to friendly parties with a higher price point? I think this can only be guessed at this point with the information we have.
.
So why did RC seemly delay his own 16(b) case for so long when in the class action he was able to say he got advice from Olshan to sell his shares and got the thing tossed? Did he time it to have the Plan Man in the right spot at the right time (taking over from Punch and Judy to be the plaintiff)? Did he want the Plan Man to follow this trail to where he could be behind HBC considering his standstill had completed? Was RC able to extract a majority of the shares out of the belly of the beast while setting a bear trap and and showcasing the trail of fraud that the Plan Man wouldn't be able to ignore?
.
Maybe.
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It will cost RC/HBC ~$300M. But this money will go back to the estate. What would be worth that amount? Well it seems like a good investment for 80% of the shares and helping keep the company out of bankruptcy for a time. Could this claw-back happening now be for an injection timed (purposefully delayed) to put Class 9 back on the map and have the Plan Man's face in the proverbial? Maybe, but there are still lots of questions.
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Look, I eat crayons most of the time but I still believe this is strategic.
.
Now, just remember an astute person once said...
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"Ask not what your company can do for you – ask what you can do for your company" - Aug 6, 2022

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Hello, this is throw away for obvious reasons. I am drowning in debt and am severely anxious and depressed over it and don't know where to turn. I owe about 145k in debt (17k of that is business debt and 28k is a subrogation debt, the rest is credit card and phone collections). I make 58k a year from my 9-5, I have an LLC also which is where the 17k is from. I also owe federal/state taxes combined in the amount of 65k. My LLC in the beginning made about 140k but has dropped severly to around 30-45k a year.
Would bankruptcy be an option? I feel like such a loser and an idiot for getting myself into this situation and don't know what to do anymore. Any tips/advice would be appreciated

Against my better judgment, I pre-ordered a couple records from Bandbox when they were already a little shady. I wasn't surprised when I got a bankruptcy notice.
But today I received the following email.
To Whom It May Concern:
As you know, Bandbox filed an Assignment for Benefit of Creditors. The Assignee has now entered into an agreement to sell the assets of Bandbox. The Assignee has filed a motion requesting that the Court approve the sale, the distribution of the net proceeds and the final report and discharge of the Assignee. Linked at the bottom of this email you will find the documents filed in this case. The Court has scheduled a hearing on this for June 6th, 2024.
As part of the sale, the purchaser, Haughton Elevator Company LLC has agreed to facilitate the fulfillment of certain of the prepaid orders outstanding with Bandbox. To that end, Haughton has issued the following statement:
“We at Haughton know first-hand how upsetting Bandbox’s cease in operations has been. We diligently worked with Lighthouse Management Group to reach this agreement and are well positioned to make this right. Upon approval, VinylBox, our partner, will begin the process to ensure customers receive any available vinyl orders that were originally placed with Bandbox.”
Further information from Haughton Elevator Company LLC is available at https://vinylbox.co and bandbox@vinylbox.co.
Thanks, Bandbox
Haughton Elevator Company!?!? VinylBox.co?
I hadn't heard of VinylBox before but apparently they've launched at least once already with a nice collection of TikTok promo videos and a questionable reception among vinyl enthusiasts. (Maybe don't feature a suitcase player in your video...) Now they're...re-launching with Bandbox's assets under the auspices of a defunct elevator manufacturing brand? Is this the bizarro universe?
Well, if it means I get my Long Winters LPs I guess I'm still okay with that.

I'm sharing my friend's story on here because they're very scared about how their estranged spouse's financial irresponsibility will affect their future, and they can't afford to see a lawyer for a consultation to answer their questions. I'm desperate for any legal advice on their behalf about how they can navigate they divorce with minimal damage. Any and all advice is very much appreciated. Here's their summary of the situation:
In 2016, my now-estranged spouse and I got married. We live in Texas.
For the entirety of our marriage, I made more money than he did. We agreed from the beginning of our relationship that he would be in control of finances, so I had very limited insight into our spending. To this day, I have never seen our mortgage.
We had a joint checking and savings accounts as well as our own checking accounts. Our income deposited in our joint account, and we paid our bills out of there. We deposited the same small amount every month into individual checking accounts, so we each had our own spending money.
In 2018, he tried to start a business and put all the costs on his personal credit card in his own name and a business card.
In 2019, we bought a house together.
In 2020, he gave up on this business. He told me he had racked up a lot of debt on credit cards from the failed business, and he hadn't paid it off. Collections started contacting us. I encouraged him to call the credit card company and figure out a payment plan, but he didn't.
In 2022, he told me one day he was filing for Chapter 13 bankruptcy. He visited the lawyer without my consent. He informed me after the fact. Shortly after this, he got into a car accident and because he didn't have car insurance or health insurance, he was responsible for the bills.
What (to my best understanding) was included in bankruptcy

• his personal credit card
• his business credit card that we were both on
• his bills from car accident
• mortgage for our house
• our HOA balance

The bankruptcy payments factored in both of our incomes.
In 2023, I started a side business and filed an LLC. It's in my name, so it has not been included in the bankruptcy.
We have not filed for divorce yet, but we live apart, our relationship is over, and my estranged husband has expressed his intention to file.
Here are my questions:

• How will our divorce affect mortgage payments in light of his bankruptcy filing?
• Will I be responsible for his debts after the divorce?
• If he changes his bankruptcy to Chapter 7, will I lose the house?

I'm sharing my friend's story on here because they're very scared about how their estranged spouse's financial irresponsibility will affect their future, and they can't afford to see a lawyer for a consultation to answer their questions. I'm desperate for any legal advice on their behalf about how they can navigate they divorce with minimal damage. Any and all advice is very much appreciated. Here's their summary of the situation:
In 2016, my now-estranged spouse and I got married. We live in Texas.
For the entirety of our marriage, I made more money than he did. We agreed from the beginning of our relationship that he would be in control of finances, so I had very limited insight into our spending. To this day, I have never seen our mortgage.
We had a joint checking and savings accounts as well as our own checking accounts. Our income deposited in our joint account, and we paid our bills out of there. We deposited the same small amount every month into individual checking accounts, so we each had our own spending money.
In 2018, he tried to start a business and put all the costs on his personal credit card in his own name and a business card.
In 2019, we bought a house together.
In 2020, he gave up on this business. He told me he had racked up a lot of debt on credit cards from the failed business, and he hadn't paid it off. Collections started contacting us. I encouraged him to call the credit card company and figure out a payment plan, but he didn't.
In 2022, he told me one day he was filing for Chapter 13 bankruptcy. He visited the lawyer without my consent. He informed me after the fact. Shortly after this, he got into a car accident and because he didn't have car insurance or health insurance, he was responsible for the bills.
What (to my best understanding) was included in bankruptcy

• his personal credit card
• his business credit card that we were both on
• his bills from car accident
• mortgage for our house
• our HOA balance

The bankruptcy payments factored in both of our incomes.
In 2023, I started a side business and filed an LLC. It's in my name, so it has not been included in the bankruptcy.
We have not filed for divorce yet, but we live apart, our relationship is over, and my estranged husband has expressed his intention to file.
Here are my questions:

• How will our divorce affect mortgage payments in light of his bankruptcy filing?
• Will I be responsible for his debts after the divorce?
• If he changes his bankruptcy to Chapter 7, will I lose the house?

I'm sharing my friend's story on here because they're very scared about how their estranged spouse's financial irresponsibility will affect their future, and they can't afford to see a lawyer for a consultation to answer their questions. I'm desperate for any legal advice on their behalf about how they can navigate they divorce with minimal damage. Any and all advice is very much appreciated. Here's their summary of the situation:
In 2016, my now-estranged spouse and I got married. We live in Texas.
For the entirety of our marriage, I made more money than he did. We agreed from the beginning of our relationship that he would be in control of finances, so I had very limited insight into our spending. To this day, I have never seen our mortgage.
We had a joint checking and savings accounts as well as our own checking accounts. Our income deposited in our joint account, and we paid our bills out of there. We deposited the same small amount every month into individual checking accounts, so we each had our own spending money.
In 2018, he tried to start a business and put all the costs on his personal credit card in his own name and a business card.
In 2019, we bought a house together.
In 2020, he gave up on this business. He told me he had racked up a lot of debt on credit cards from the failed business, and he hadn't paid it off. Collections started contacting us. I encouraged him to call the credit card company and figure out a payment plan, but he didn't.
In 2022, he told me one day he was filing for Chapter 13 bankruptcy. He visited the lawyer without my consent. He informed me after the fact. Shortly after this, he got into a car accident and because he didn't have car insurance or health insurance, he was responsible for the bills.
What (to my best understanding) was included in bankruptcy

• his personal credit card
• his business credit card that we were both on
• his bills from car accident
• mortgage for our house
• our HOA balance

The bankruptcy payments factored in both of our incomes.
In 2023, I started a side business and filed an LLC. It's in my name, so it has not been included in the bankruptcy.
We have not filed for divorce yet, but we live apart, our relationship is over, and my estranged husband has expressed his intention to file.
Here are my questions:

• How will our divorce affect mortgage payments in light of his bankruptcy filing?
  
• Will I be responsible for his debts after the divorce?
  
• If he changes his bankruptcy to Chapter 7, will I lose the house?
  

My tenant without my permission opened a LLC business which has my home address as registered LLC address.
Can any liability, e.g., Fraud, bankruptcy, creditor issues etc., impact me? Is it better to provide notice to the tenant to vacate instead of being on the edge all the time?

Blackstone (NYSE: BX) has made waves in the healthcare industry with its recent announcement of the acquisition of the Center for Autism and Related Disorders, LLC (CARD), a prominent provider of autism behavioral health services. Blackstone's would like this new acquisition to establish its commitment to investing in companies that make a profound impact on individuals' lives and communities, but it raises hackles for some watchdog groups, such as the NAA, looking to shield autism non profits and health providers from becoming another wall street smash and grab.
CARD, founded by Dr. Doreen Granpeesheh, stands out as a beacon of excellence in the field of autism treatment. Offering a range of behavioral therapy services, including center-based, school-based, and home-based programs, CARD has established itself as a trusted provider nationwide. What sets CARD apart is its unwavering dedication to delivering top-tier clinical quality and positive outcomes through a combination of highly trained staff, personalized treatment approaches, and innovative technology.
However, partnership between Blackstone and CARD brings more questions than applause in the journey to enhance access to autism care. Bruce McEvoy, Senior Managing Director at Blackstone, expressed excitement about the partnership, recognizing Dr. Granpeesheh's leadership in building an industry-leading organization, words you do not normally wish to hear when looking for necessary health services for your child.
Dr. Granpeesheh echoed this sentiment, emphasizing the shared vision of both parties to empower individuals affected by autism to reach their full potential. They emphasize that their union would add an infusion of resources from Blackstone that will enable CARD to expand its reach and further enrich its services, bolstering investments in people, clinics, technology, and research. This strategic alignment actually spells is Blackstone's commitment to corporate takeovers.
Dr. Granpeesheh and Director McEvoy’s new partnership spells only one thing, creating long-term value for stakeholders not for the advancements in autism research, not for breakthrough therapies, not for desperately needed treatments for a parents struggling child.
It was the no surprise that Dr. Granpeesheh, founder and board member for over 25 years, abruptly left CARD after the acquisition citing disagreements with the new management and their creative new ideas about changing the company. An unsurprising development to all taking notice of those very creative private equity firms and their takeovers of healthcare entities.
With the eventual bankruptcy of CARD while Blackstone ran the helm, it brings concerns for other private equity firms acquiring health care providers and non profits like those for autism services. These firms squeeze out every penny they can, understaffing, slashing services, shuttering locations, cutting quality of care for the one goal of generation of profits and pleasing it’s shareholders.
Solutions for these are sparse, because the entities are private, little is known about the dealings and market share they control. Watchdogs groups suggest dogged reporting is how they keep these firms and non profits working to keep their motives in check, that and getting the federal government involved. Not an easy thing to do, but so far enough sand has been kicked up to get the FTC and the DHHS to announce an inquiry into private equity and corporate takeovers of healthcare entities like CARD, many remain hopeful these federal agencies will be able to shed some light and create more safeguard for non profits, like those in the fast growing area of autism research and advocacy.