Legal Question in Bankruptcy in Maryland

How to file for Sole Propriotor Bankrupcy

How dose a person file bankrupcy for a sole propriotor business??? Are there any websites that might have some information to help me??


Asked on 6/18/02, 11:06 am

3 Answers from Attorneys
Daniel Press Chung & Press, P.C.

Re: How to file for Sole Propriotor Bankrupcy

You need to consult with a bankruptcy lawyer, but in summary a sole proprietor (not being a different entity from the business) files personal bankruptcy (whether Chapter 7, 11, 12 (if a farmer) or 13). Both business and personal debts, and business and personal assets, are included. I practice in MD, DC, and VA, so please feel free to contact me.

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Answered on 6/18/02, 12:49 pm
Tommy Andrews, Jr. Tommy Andrews, Jr., PC

Re: How to file for Sole Propriotor Bankrupcy

If you wish to file a chapter 7 you would file an indiviual petition and include your personal as well as business debts. You certainly may contact us if you have any other questions

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Answered on 6/26/02, 1:22 am
G. Joseph Holthaus III Law Offices of G. Joseph Holthaus

Re: How to file for Sole Propriotor Bankrupcy

Not being a separate, legally recognized entity (such as a Corporation), a sole proprietor files for a personal bankruptcy

with discharge of both personal and business debts in the same proceeding. There are complex matters involved since the filing may

adversely affect the proprietorship.

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Answered on 6/20/02, 11:02 am


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