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Questions Answered by Lawrence F. Regan
1 Answer | Asked in Business Formation and Business Law for Maryland on
Q: My understanding is that if your MD LLC is forfeit, can you register a different business without penalty?

My understanding is that to reinstate the original business, you have to pay annual report filing fees plus penalties for the previous missed years. But what if you want to register a new business under a different name? Are there penalties for this?

Lawrence F. Regan
Lawrence F. Regan answered on Sep 30, 2016

No, you are fine.

1 Answer | Asked in Bankruptcy for Maryland on
Q: How long does a creditor have to pickup PMSI items that are surrendered on the statement int. post Chapter 7 in Maryland
Lawrence F. Regan
Lawrence F. Regan answered on Sep 30, 2016

Do you mean post Chapter 7 filing or post Chapter 7 discharge and case closed. While the Chapter 7 is open, you need to file a motion and obtain relief from the automatic stay before acting. The property is property of the bankruptcy estate and although the debtor has custody, it is the trustee who... Read more »

1 Answer | Asked in Tax Law and Bankruptcy for Maryland on
Q: I have a IRS lien and judgment against me and I filed bankruptcy a year ago can this still stop this
Lawrence F. Regan
Lawrence F. Regan answered on Sep 29, 2016

You don't really provide enough information for a lawyer to answer this. When were the IRS lien and judgment entered compared to the date the bankruptcy petition was filed? I assume the lien and judgment were pre-bankruptcy? What is the lien on? Real estate, tangible personal property? When I call... Read more »

1 Answer | Asked in Bankruptcy for Maryland on
Q: Can I be forced into involuntary bankruptcy if I have no assets?
Lawrence F. Regan
Lawrence F. Regan answered on Sep 29, 2016

Yes. All that is required is that you be insolvent. Just because you have no assets does not mean there are no assets recoverable from third parties due to fraudulent conveyances or preferential payments to individual creditors. This kind of thing occurred when investors were actually paid by... Read more »

2 Answers | Asked in Car Accidents for Maryland on
Q: I hit someone in the back of there vehicle i had no insurance and out of state license what is my situation?

No injuries, i went home to file a claim only to find out my insurance was cancelled 2 days prior and i have a different state drivers license we both exchanged information at the accident

Lawrence F. Regan
Lawrence F. Regan answered on Sep 30, 2016

In addition to the information in the first answer, if you are unable to pay any judgment, it bankruptcy can stop or undue suspension of your driving privilege.

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