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  1. #1
    Join Date
    Sep 2006
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    2

    Unhappy I want to file bankruptcy but I sold leased computer equipment

    I want to file bankruptcy in NM but I leased computer equipment from Dell and Financial Pacific Leasing, which I sold (I own an electronics store) I thought my business would pick up and I would be able to make the payments but it got worse instead, now I cant continue to make the payments.I've already sold all my assets except for my house to try to keep the business going. My attorney says the court will probably discharge my personal guarantee but if I file on my corporation the judge will tell me to return the equipment since my business will no longer exist and there is no equipment which is not legal. Does anyone have any experience with this?

    JW

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: I want to file bankruptcy but I sold leased computer equipment

    I think your lawyer is correct.

  3. #3
    Join Date
    Sep 2006
    Posts
    2

    Default Re: I want to file bankruptcy but I sold leased computer equipment

    Quote Quoting Mr. Knowitall
    View Post
    I think your lawyer is correct.
    I think he's correct too. Do you have any ideas on how to handle it?

  4. #4
    Join Date
    Jan 2006
    Posts
    38,709

    Default Re: I want to file bankruptcy but I sold leased computer equipment

    Sounds like it is time to move.

    If the only asset you posess is the house (presuming you have some equity), then that may be your only hope. Like you posted prior, what you have done can be considered criminal.

    If it is the choice of selling the house or facing criminal charges, I think I would be looking for a moving company. I don;t know that it would come to the criminal charges but it could.

    The other point is that you cannot file BK on fraudulently gained money and that your situation could be considered such. If so, the courts would not discharge the debt.

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