Legal Question in Bankruptcy in Kansas

bad economy possibly bankrupt

as solepropirtor trucking company if my comapany,goes under on straight bankruptcy could i reaffirm any of my equipment notes and keep equipment i have 9 trucks and 13 trailers financed at different creditors asking could i reaffirm one creditor to keep 2 of my trucks been in trucking all my life all i no.last year was 28 trucks and trailers been selling off as fast as i can but economy destroying me.stress been so bad had heart attack 6 weeks ago and drs.fill i need to keep down sizeing i have $70,000 in unsecured debt plus hospital bills and ballon notes of $40000 in feb 2004 another $18000 in march cant get loans to refinance.tired of empoyees just wont to keep me and son working.


Asked on 10/16/03, 12:23 pm

1 Answer from Attorneys
James Rupper Powell, Brewer & Reddick

Re: bad economy possibly bankrupt

As a sole proprietor, one may examine Chapter 7, Chapter, depending on size of business, or Chapter 11, and build a reorganization plan to continue operate your business. You need to meet with a bankruptcy attorney now to discuss your options and plan reorganization. Bankruptcy may have an impact on how you sell your vehicles and downsize. Your fact situation is too complicated to respond individually on the net. You may contact our office if you would like some assistance, 316-265-7272.

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Answered on 10/16/03, 12:33 pm


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