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Bankruptcy Business Questionnaire

Home/Bankruptcy Business Questionnaire
Bankruptcy Business QuestionnaireDiane Drain, attorney and retired law professor2020-08-10T17:13:39-07:00

Company Bankruptcy Questionnaire

1General Information
2General Questions
3Financials & Means Test

  • General Information

    Step 1 of 3

    We realize you are extremely nervous about your company's financial situation. Let us help you get answers to your questions. Our commitment is to provide excellent assistance for very reasonable fees.

    Estimated time to complete the entire form is 15 minutes. Most of these questions can be answered very easily.

  • GENERAL INFORMATION FOR A BUSINESS

  • Include LLC or Inc. along with State where the business was incorporated or established: For instance: Generic Business, an Arizona LLC.
  • Mark "None" if applicable.

  • Information about you:

  • For instance: President, Treasurer or Managing Member
    If not, it is important that someone who is authorized be part of our discussion.
    If so please fill out the questionnaire for individual and submit at the same time you submit this form. Call us if you need information how to do this.

  • General Information

    We are always flattered when a prior client, friend or fellow attorney refers a potential client. Please let us know their name so we can thank them. Instead, if you did a search on the Internet please let us know how you found us. Thank you for this information.
  • Bankruptcy is not always the answer so it is important that I understand what you want or need to accomplish. That will help me provide counsel as to whether filing bankruptcy will accomplish your goals.
  • Include the bankruptcy case number if possible.

  • Thanks, you're doing great so far!

    Please proceed to Step 2 General Questions in the questionnaire so we may get a better understanding of how we can help.
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  • General Questions

    Step 2 of 3

    Your answers to these general questions will help me to understand your unique situation, including what you have done or has been done to you. Many people make decisions that do not lead to problems outside bankruptcy, but in a bankruptcy those same innocent decisions can be disastrous. Based on your answers I will customize my advice with the goal of helping you avoid problems, if possible. I realize this is a lot of information, but accurate information will be your best friend. A friend of mine says “garbage in, garbage out”. He is correct because if I get the wrong information from you I will most likely give you the wrong legal advice.

  • THE FOLLOWING ARE GENERAL QUESTIONS REGARDING YOUR COMPANY'S CURRENT SITUATION. THIS DISCUSSION IS NOT INTENDED TO ADDRESS YOUR PERSONAL LIABILITY FOR ANY DEBTS. YOU ARE WELCOME TO FILL OUT THE PERSONAL BANKRUPTCY FORM FOR THAT DISCUSSION.

  • That includes you.

  • THE FOLLOWING QUESTIONS RELATE TO CERTAIN ISSUES THAT DETERMINE WHETHER OR NOT IT IS APPROPRIATE TO FILE A BANKRUPTCY AND, IF SO, WHEN TO FILE.

  • If this is a "yes" we must discuss the ramifications.
  • Understand that only the debts you owe on the day of filing the bankruptcy will be dealt with in the bankruptcy. So any new debts you incur after bankruptcy will be your obligation.

  • CREDIT CARDS, BANKS AND OTHER DEBTS:

  • Secured debt is debt that is guaranteed by an asset. Common examples of secured debt are a mortgage and a car loan.
  • An unsecured debt is any type of debt or general obligation that is not collateralized by a lien on specific assets of the borrower.
  • Answer "yes" if the Company had credit cards in the past that were not paid off. Answer "yes" even if the creditor "wrote off" the debt. To write off a debt does not mean the debt is gone, it means the creditor will mostly likely sell it to a debt collector.
  • You only need to provide the year and approximate date and month. It is okay to guess as to the day and month, but not the year.
  • Briefly explain how much was changed and how the funds were used.
  • We will talk about secured debts.
  • This is very important.
  • BEWARE: I DO NOT RECOMMEND THAT ANYONE BANK AT WELLS FARGO IF THEY ARE CONSIDERING BANKRUPTCY (THEY WILL FREEZE YOUR BANK ACCOUNTS).
    It is important that officers, directors and/or shareholders obtain their own legal advice regarding personal obligations to pay company debts, including unpaid taxes.
    In other words, the returns were filed after the date they were due, including extensions.
  • For instance: 2013 federal return, no extension, filed November 2014. Owe $2,400.
  • Beware of an cross-collateralized accounts with the credit union.
  • If so, these may not be discharged in a bankruptcy.
  • What is the Company leasing: equipment, commercial property, vehicle, or other?

  • HOME, LAND AND VEHICLES

  •  
  • How much must you pay in order to bring the payments current?
  • If there is a trustee's sale pending, please provide us a copy of trustee sale documents.

    **It is your responsibility to confirm the trustee sale date and at all times to keep track of that date and any postponements; including the entire time the bankruptcy is pending. This office will not monitor the date of sale for you, but we be happy to answer your questions regarding the trustee sale process.

  • VERY IMPORTANT!

  • VEHICLE INFORMATION

    List all vehicles & equipment in the Company's name.
    List all debts on any of those vehicles.
    List the fair market value of each vehicle using the resources below.

    Resources for fair market value: www.kbb.com (private party value) or www.edmunds.com or www.NADA.com I cannot give you good advice without an accurate fair market value.
    Do not list leased vehicles.
  • This information should be on the registration.
  • Make sure to use www.KBB.com, www.Edmunds.com or www.NADA.com
  • Make sure to use www.KBB.com, www.Edmunds.com or www.NADA.com

  • Make sure to use www.KBB.com, www.Edmunds.com or www.NADA.com
  • Make sure to use www.KBB.com, www.Edmunds.com or www.NADA.com
  • Make sure to use www.KBB.com, www.Edmunds.com or www.NADA.com

  • ASSETS, INCLUDING BUSINESSES:

  • This includes a business that does not have a formal LLC or corporate name "sole proprietorship".
  • Normally you can value a business by subtracting liabilities (debts, including leases) from assets (including accounts receivable). Just provide us with a general guess.
  • This result will differ if filing a chapter 11.
  • NOTE: it is very important to make absolutely certain that your retirement accounts are ERISA qualified. You can talk to your employer, HR, or plan administrator, or the word ERISA may be on your plan summary..

  • MISCELLANEOUS

  • IMPORTANT: IF ANY OF THE FOLLOWING SITUATIONS APPLY TO YOU THEN WE WILL NEED TO DISCUSS THE CONSQUENCES OF FILING FOR BANKRUPTCY.

  • Thanks, only one more section to go!

    Please proceed to the final step of this financial Information and we will have all we need to schedule your free phone consultation.

Save and Continue Later

  • Financial Information & Monthly Budget

  • Monthly Expenses

  • Just an informed guess will be fine for discussion purposes here.

  • Monthly Income

  • Includes rental, contact and any other income. this is just an informed guess will be fine for discussion purposes here.

  • Additional issues:

  • FABULOUS JOB, BUT BEFORE YOU TAKE A WELL DESERVED BREAK, PLEASE READ THE INFORMATION BELOW AND SIGN (checkbox) WHERE INDICATED.

    I REALLY APPRECIATE YOUR COMMITMENT TO PROVIDING ACCURATE INFORMATION WHICH WILL ALLOW ME TO GIVE YOU LEGAL ADVICE TAILORED TO YOUR UNIQUE SITUATION. I LOOK FORWARD TO TALKING WITH YOU. IF YOU DO NOT HEAR FROM US WITHIN 24 HOURS OS SENDING YOUR FORM PLEASE CALL. YOU ARE VERY IMPORTANT TO US AND WE DO NOT WANT YOU TO FEEL UNNECESSARY STRESS JUST BECA-- USE YOU ARE WAITING TO HEAR FROM US. WE ARE REALLY HERE TO HELP YOU.

    If the form does not submit when you press the button then you need to scroll through the form looking for red paragraphs that need answers. Otherwise, you will receive a notification that it was successfully submitted.
  • This field is for validation purposes and should be left unchanged.
Save and Continue Later

  • Bankruptcy Business Questionnaire
  • Bankruptcy for an Business- Moving Toward Filing Your Bankruptcy

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