Legal Question in Business Law in Arizona

Business Bankruptcy in Arizona

I have a small business in Az, I want to file personal bankruptcy and not have it affect the buss. The loans are personally secured through one junior lien& credit cards. All my records show I am not able to pay my bills as of the first of the year. It is however my only source of income. Can I file for bankruptcy and protect the business? I also have 2 vehicles (not expensive) and a small boat which are payed off and were before the business debt was incurred. How would I protect these? The other debt I have is advertising through media, approx. $100,000.00 personally secured. Would this go away with filling personal bankruptcy because they are in my name, or would they go after the business? The business shows that we cannot afford to repay these costs. I am seeking help any advice will do. Thank you

Asked on 5/30/08, 12:16 pm

1 Answer from Attorneys

James Jenkins Jenkins Law Center PLC

Re: Business Bankruptcy in Arizona

Please re-submit under the bankruptcy/consumer law category. Bankruptcy attorneys can answer this. I suspect the facts are involved enough that you need to have a consultation with a bankruptcy attorney. I suggest you do that right away.

Good luck.

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Answered on 5/30/08, 12:37 pm

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