Legal Question in Bankruptcy in Oregon

Can I fil bankruptcy for business & personal bills?

I am currentl yin the process of selling my business. I will not make a profit from this. The buyer is assuming the loan. My question is, the business did not do well and has left me in debt up to my eyeballs, business and personal debt. Can I file all of the bills in a chapter 7? The business was a sole proprietorship.

Thanks!


Asked on 5/17/00, 3:11 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Can I fil bankruptcy for business & personal bills?

You can file bankruptcy and discharge your non-tax business debt (along with any other debt). Note that the sale will be subject to question by the trustee to be sure you got fair value for the business. See an experienced bankruptcy lawyer in your community.

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Answered on 7/05/00, 11:09 am


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