Stabilize the facts before changing anything
This situation connects LLC Debts, Personal Guarantees, Taxes, Equipment Loans and Leases. Preserve the original records, identify the next dated event, and obtain issue-specific review before moving money, property, payments, or legal positions.
Evidence file for Closing A Business With Debt
LLC Debts
Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments.
Personal Guarantees
Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments.
Taxes
Tax type and year, return filing date, assessment, transcript, balance, lien, levy, audit, and payment history.
Equipment Loans
The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Leases
The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Facts that shape the review
- Separate the entity from the individual: ownership, guarantees, taxes, leases, payroll, receivables, collateral, and recent owner transactions may point to different options.
Issue log
| Issue | Evidence to preserve | Open question |
|---|---|---|
| LLC Debts | Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments. | |
| Personal Guarantees | Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments. | |
| Taxes | Tax type and year, return filing date, assessment, transcript, balance, lien, levy, audit, and payment history. | |
| Equipment Loans | The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it. | |
| And Leases | The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it. |
Questions that can change the next step
| Question | Your facts |
|---|---|
| What exact outcome is needed? | |
| What date changes the next step? | |
| Which fact remains unverified? |
Timing caution
If a sale, hearing, deduction, seizure, shutoff, or response deadline is near, use qualified local help rather than waiting for general online information.
Verify with current sources
U.S. Courts Bankruptcy Basics · Official Bankruptcy Forms · Current Means Testing Data · Official source directory