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Buying a business before discharge

My wife filed for bankruptcy in the fall of 2007. She is still not discharged. She is in the process of buying the small business she works for, making monthly payments to the current owner. Should she be concerened about taking over this business before being discharged. She didn`t borrow the money to make the payments, and there are no financing charges.

Posted from: British Columbia

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One Response to “Buying a business before discharge”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

As long as she has kept her trustee in the loop about her plans then there shouldn’t be to much of an issue. Although this partially depends on how the business is set up. If it is a limited or incorporated company, while she is in bankruptcy she is not eligible to be a director of the company while she is in bankruptcy.