What is the name of your state? Hawaii
I have a pending lawsuit against my s-corp, which has also incurred alot of debt. I've considered having my s-corp file for BK prior to being involved in a lawsuit. The sum they're going after is far above anything I could even dream of paying back- around $250K. Would it be better to wait until a decision has been made by the courts before filing? Or should I do it before? Any advice on how to stay in business while the lawsuit plays out and after? I'm very new to how all of this works.
I have a pending lawsuit against my s-corp, which has also incurred alot of debt. I've considered having my s-corp file for BK prior to being involved in a lawsuit. The sum they're going after is far above anything I could even dream of paying back- around $250K. Would it be better to wait until a decision has been made by the courts before filing? Or should I do it before? Any advice on how to stay in business while the lawsuit plays out and after? I'm very new to how all of this works.