Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Phone and Video Consultations
Available Today!

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Filing for CHapter 7 as a Corporation Owner

Do you own a corporation but want to file for personal bankruptcy?

If you are a stockholder in a corporation and are considering filing for personal bankruptcy, this will not affect your relationship with the corporation. However, your shares in the bankruptcy are considered an asset and could be taken as part of your bankruptcy estate. A court will determine the current value of your shares based on: the current marketability of your shares, the percentage interest they represent and the total value of the corporation's assets.

In addition, a corporate or business bankruptcy should not affect the shareholders directly. If the corporation files for a Chapter 7 bankruptcy, the stockholders will generally not be notified of the filing as they wouldn't be expected to receive anything from it. However, if funds are left over after the bankruptcy has been discharged, you can file for your share of any debts that are in your name.

Considering Chapter 7?  Now is the time to contact us to get help from a Chicago bankruptcy attorney.

Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100