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Will I be able to continue operating my sole proprietorship business after filing personal Chapter 7 Bankruptcy?

Merced, CA |

I am the only employee of my business and it is run out of my home.

Attorney Answers 4

Posted

I don't see why not.

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Posted

Probably but go over the details with your bankruptcy attorney. If you don't have one, I recommend getting one.

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Posted

Yes.
No.
Maybe...

Bankruptcy ch 7 provides a fresh start by the discharge of many--perhaps all--of a sole proprietor's debts. However, the price of that discharge may be the loss of non-exempt property rights (inventory, for example) or the extinction of critical lines of credit, that might make continuation of the business unfeasible.

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Posted

Most likely, yes, but why not let your bankruptcy attorney help you answer this question based on a review of all of your assets, accounts receivables, etc.

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