Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
If you want to keep your home, you just have to make sure you can continue to make the payments on time and the lender will probably ask you to reaffirm the debt. If you want to try to keep most of what you own and keep the buiness alive, but you just need a little time to get back on your feet, then you would file a chapter 13 reorganization. If you just want to keep your home and what is called "exempt property" and let everything else go and wipe out all the debt and start fresh, then you would file a chapter 7.
As far as paperwork, you will need to complie a list of all your personal and business assets and estimated current values for the same and take that information to the lawyer. If your business is incorporated or an LLC, then you will have to file a separate BK for that and one for your personal assets and debts.
I would report the partner issue to the police and inform the BK trustee so he can recover those assets on behalf of the creditors. Please click "ACCEPT" so I can get credit for my work. If needed, we can continue our conversation after this at no additional charge.