Soon to be partner in BK any risks on my end?

[Lolita Ellis]

Hey BP Fam,

I have been pondering for several months on this so I decided to reach out to you and ask of you opinions. As they are always helpful and make us exercise our critical thinking skills! I am thinking of forming an Llc with a friend but in our process of discussing I was informed that they are in BK…..

We were going to combine funds but both of us were advised by an attorney that this may not be in our best interest. The attorney suggested she check with her BK attorney…. He also suggested that we consider just a joint venture as I have read b many. My friend is concerned with protection. It was then suggested that we each for an llc then do a joint venture together. Any thoughts?

Ive read many prior posts on BP and I did propose the idea of the JV because of some of the questions and answers that Holdman, Scott, Gully, Carey, and everyone else has stated. It had me concerned and almost scared in my pants and that was the purpose…

Your thoughts? Questions I should be asking or concerns I may be missing?