If I own a business can I file for bankruptcy? 4 Answers as of August 27, 2010

I am the sole proprietor of a small business. My business has greatly suffered over the last couple years because of the economy and because of personal issues within my life. Even though I own my own business, can I still file for personal bankruptcy?

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The Doan Law Firm
The Doan Law Firm | Shawn Doan
Yes, you can still file bankruptcy if you own a business.
Answer Applies to: California
Replied: 8/25/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
You can file for bankruptcy even though you own a business. However, your business is an asset in your bankruptcy estate. If it has significant value, the trustee may force a sale.
Answer Applies to: Arizona
Replied: 8/25/2010
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