Legal Question in Bankruptcy in California

I have two more years to pay up a Chapter 13 bankruptcy but now have an opportunity to start up a booming business with the help of friends and family. Can I do this as long as I don't borrow from a lender? My family and friends are not expecting to be repaid until the business earns money. They will be investors in the business.

Asked on 6/12/15, 10:45 pm

1 Answer from Attorneys

Kendall Coffman Law Office of Kendall David Coffman

If you're represented by an attorney in your Chapter 13 case, then you should ask your attorney about this.

Without knowing all the details, I can only give you a general answer. My general answer is Yes, you can go ahead with the business. So long as you keep up with the Chapter 13 Plan payments and stay current, there shouldn't be a problem.

Once again, however, check with your attorney.

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Answered on 6/13/15, 10:08 am

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