Different contributor here. The previous contributor is not qualified by this website to answer bankruptcy law questions -- apparently your question was inadvertently misdirected to the "real estate law" category. I have reviewed your previous question -- please permit me to assist. You asked:
"Are these business assets or do they include personal assets also?"
A: If your business is incorporated as a separate legal entity (e.g., Inc., LLC, LLP, LP), AND you have NOT signed any contract
as a personal guarantor of the business, then you could file bankruptcy for the business and it would have no effect on your personal assets and liabilities.
However, because a separate business entity can only be represented by a licensed attorney, and because business bankruptcy
attorneys are generally more costly than consumer bankruptcy attorneys, many business owners in the situation I describe here, choose to simply close the doors on their business and leave the "shell" business insolvent forever, because the creditors cannot reach the owner's personal assets.
Now, if you, like most people, have either not incorporated your business, or you have signed as a personal guarantor on your debts such as the property lease or credit cards, etc., then you are personally liable for those debts, and your only recourse is personal bankruptcy
What happens is that you place both your personal assets and liabilities into the hands of the bankruptcy trustee
, and that includes your ownership interest in the business. The result is that your liability for the business and your personal debts are eliminated, to the extent that is legally possible.
Certain personal debts are nondischargeable -- and certain personal assets are exempt from seizure by your creditors and/or the bankruptcy trustee. A list of bankruptcy exemptions can be found at this link: http://www.thebankruptcysite.org/exemptions/washington.html. A list of nondischargeable debts can be found at this link: http://www.nolo.com/legal-encyclopedia/nondischargeable-debts-chapter-7-bankruptcy.html
I believe this covers your bankruptcy law questions. If you require further assistance, please open a new Q&A session and put my userid at the beginning of your new question ("To socrateaser") and I will happy to consider your next question.
Best wishes and I hope this has helped clarify things for you.