Legal Question in Bankruptcy in Kansas
business
If I file bankruptcy on my business, how will it effect my home and family assects? Can I only file on my business?
Asked on 8/04/00, 2:28 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: business
You did not state how your business is organized. If it is a LLC or a corporation, you can bankrupt your business with no personal consequences. If your business is a partnership or sole proprietorship, then you may have personal liability. You will have personal liability for any debts you guaranteed personally.
Answered on 9/13/00, 5:11 pm
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