Legal Question in Bankruptcy in Texas

Re: small business

Sounds like you have an unicorporated business, so you would have to file as an individual. You may file without your husband, however your seperate property and you and you husband's community property would be subject to your debts. Larry Maun 713.266.2560

Re: small business

Short answer -- Your small business is presumably unincorporated so you will need to file an individual Chapter 7 case.

If your business is incorporated (or an LLC) you could file a Chapter 7 case to effectively dissolve the business and its debts. However it appears that you have operated this business as a sole proprietorship or DBA. Therefore you will need to file a bankruptcy under your personal name. Your husband does not need to join in this case. Your personal property will be subject to review by the bankruptcy court. However, this is usually not anything to worry about. In Texas an individual can exempt (keep in spite of your debts) up to $30,000 of personal property. There are other exemptions in addition to this. Most filers keep all of their property. A good lawyer will use the best strategy to make sure you keep all or most of your personal property.

I hope this answers your questions. Please feel free to contact me personally to discuss your case in more detail. If you reside near Houston I would be pleased to handle your case. Please call (800) 303-0720