Legal Question in Bankruptcy in Ohio

Buisness Bankruptcy after Personal Bankruptcy

I had a Chapter 7 Bankruptcy in Aprill 2000 on my personal debt. I went into a Trucking Business with a couple of co-workers in 2002. I started out as a 25% owner but one of the partners quit and I am now 50% owner. The buisness is doing terrible can I file for Business Bankruptcy? The trucking equipment is on a lease for 3 more years, what effect does this have on me? My partner has never filed bankruptcy and doesn't want to for fear of leaving me all of the bills. Would I be liable for everything because I have already had a bankruptcy within the last seven years?


Asked on 4/24/04, 3:31 am

1 Answer from Attorneys
Steven Schiller Steven L. Schiller, Attorney at Law

Re: Buisness Bankruptcy after Personal Bankruptcy

You can't file another chapter 7 until six years after the previous filing, but you can file a chapter 13 even though it has only been four years. Many of the same benefits can be achieved in a chap. 13 as in a chap. 7. If you and your partner both want to file, he may be able to file a chapter 7. If you have any questions regarding how this works, feel free to contact me at 513-621-2201 (Cincinnati number)

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Answered on 4/24/04, 8:59 pm


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