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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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If the debtor is a sole proprietor can he file chapter 7 or

Customer Question

If the debtor is a sole proprietor can he file chapter 7 or 13 as an individual? How are the business assets treated?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

cfortunato :

Hi JACustomer,

cfortunato :

Yes - a debtor who owns a sole proprietorship can file a Bankruptcy - either a Chapter 7 or a Chapter 13.

cfortunato :

The business and its assets are included with the personal assets of the debtor.

cfortunato and 2 other Bankruptcy Law Specialists are ready to help you