Bankruptcy Question Involving Corporation?

Kara Tabian: 1) Is this stock that you own jointly, i.e. your wife and you own 51% of the stock and a third party (or parties) own the other 49%? If that is the case, then you have a controlling interest in the corporation.2) The next question to answer is does the corporation have any assets? If the corporation has assets, then the corporation may have some worth. The bankruptcy trustee may very well decide that he wants to value the corporation stock to determine if there is anything to attach to sell for the interest of creditors.3) Your bankruptcy attorney will review your debts, and will also discuss with you whether your wife should file. Depending on your state of residence and the type of debts, she may need to file anyway to protect her from the backlash when you file.Most bankruptcy attorneys don't make their clients wait that long. It seems to me that you should call around and find someone with whom you can meet a little sooner. (The average appointme! nt time in my office is about 3 to 5 days, depending on the client's scheduled)For a referral to a different attorney, contact your local or state bar association....Show more