Can i file a ch. 11 bk for my business, if i filed a ch.7 personal 5 to 6 yrs. ago.

Asked over 5 years ago - San Diego, CA

I am a licensed contractor and like so many of us in this economy am on the verge of going belly up. The problem is my wife and I found it necessary about 5 1/2 years ago to file a ch. 7 bk for our personal bills. We were able also to take care of my business debts@ the same time.
Now most of what I owe is through my business and am wondering if a ch. 11 is an option @ this time.

Additional information

Or is a ch. 13 filing an option.

Attorney answers (1)

  1. Jeffrey Daniel Larkin

    Pro

    Contributor Level 15

    Answered . Chapter 13 may be an option for you depending on what type of business you operate. If a corporation and you want to continue operating then you need to look at chapter 11 but if you are a sole proprietor then you should consider chapter 13 options.

    LEGAL DISCLAIMER
    Mr. Larkin is licensed to practice law in CA and is located in San Diego. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.

Related Topics

Debt

There are different types of debt, but all involve one person (the debtor) owing money to another (the creditor). Terms of repayment are governed by a contract.

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