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emailamethyst · Joined: 14 Dec 2009 Posts: 2 1.49 Dollars($)

My father is angry with me now because he said that he cannot believe I would think he would ask me to do something fraudulent. He said that this is not fraudulent, and explained it further to me. He said that he is not transferring his business into my name, but rather closing his business (letting govt seize it during bankruptcy?) and then opening a new one under my name, and then three mos. later buying it from me for $1. I then asked him, "Then, dad, why can't you just wait three months after the bankruptcy and open the business in your own name?" He said because he will lose all his current customers that he intends on servicing in the new business. If he is doing that, is that okay to close your business during bankruptcy and then start a new one after bankruptcy in someone else's name, even though you're servicing the same clients you serviced in your old business, and then put it in your own name three months later, buying it back from them for $1? Please help. I'm completely confused.

adonis · Posted: Mon Dec 14, 2009 8:46 pm Post subject:

Hey emailamethyst,

Your query has been answered in the given page:
http://www.mortgagefit.com/bankruptcy/business-name.html

Take a look at it. I hope it'll help you.

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