Legal Question in Bankruptcy in Indiana

Can sm bus & owner file w/o affecting e/o?

Can small sole prop. home business file Ch 7/Ch 13 w/o affecting individual (sole proprietor)? Vice Versa?


Asked on 6/04/99, 7:01 pm

1 Answer from Attorneys

Marvin Coffey Marvin E. Coffey Attorney at Law

Re: Can sm bus & owner file w/o affecting e/o?

No. If you are a sole proprietor the filing would be in your name with a d/b/a (doing business as) and your company name. Filing would subject all your property, business and personl (including any real estate) to the provisions of the code, subject to any exemptions you would be entitled to under the law. I would advise you to see a lawyer to determine whether bankruptcy is a good option for you and possibly what chapter would fit your situation best. The earlier you do this the better so that some planning can be effected.

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Answered on 6/10/99, 10:39 am


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