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is it possible to use bankrupcy if you had a sole propriety

Customer Question
business?...
is it possible to use bankrupcy if you had a sole propriety business?
Submitted: 6 years ago.Category: Bankruptcy Law
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Answered in 8 minutes by:
9/6/2011
Bankruptcy Lawyer: cfortunato, Attorney replied 6 years ago
cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8,023
Experience: Bankruptcy professor.
Verified
Hi JACustomer,
Yes - you can file a personal Bankruptcy even though you own a sole proprietorship. The business will be treated the same as any other asset you own.
Whether or not you can keep the business if you file a Bankruptcy depends on whether the business can be sold, which usually depends on whether the business can operate without you.

I think this is what you wanted to know. If not, please let me know.
Thank you!
cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8,023
Experience: Bankruptcy professor.
Verified
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