We own a small business. Some things are in our business name and some personal. If we bankrupt, how does that effect us?

What is the best way to handle bankruptcy when you own a small business and some things are in your business name and some in your personal. - Is this your question? Add additional information
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Answers (3)

Brett D Weiss

Brett D Weiss

Contributor Level 6
Your question is way too broad, since the answer depends on the details of your case. There may be loan guarantees involved, suppliers, etc.

Discuss this question with your bankruptcy attorney. He or she can review the details and let you know about how your business might or might not be impacted.
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Alan James Brinkmeier

Alan James Brinkmeier

Contributor Level 10
No one can know what the record is in the case because online we cannot find out any details

You need a lawyer. Check with a lawyer in your locale to discuss more of the details.

You might find my Legal Guide helpful "How to Choose A Lawyer For You"

http://www.avvo.com/legal-guides/ugc/how-to-choose-a-lawyer-for-you

You might find my Legal Guide helpful " What Do I Tell My Lawyer"

http://www.avvo.com/legal-guides/ugc/what-do-i-tell-my-lawyer
Good luck to you.

God bless.

NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an atttorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question.
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Glen Edward Ashman

Glen Edward Ashman

Contributor Level 6
Without knowing what debts you and the business have, which ones you guaranteed, what assets you have, and other factors there is no way to answer you. You need to see a lawyer. I'm in your area, so feel free to contact my office with more details.
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