businss and personal debt
I am self employed and wondering if my business has to be included. I will be doing a 13 and will include all the debt i put on my business credit cards, which i used for personal things too, and include all my personal debt, but would i be forced to close the business. It is just me, nothing big, but it is my income. I am not incorp. just sole. Would this be considered a personal bankruptcy and not a business one. We have alot more debt in personal debt then bus. debt. Thanks
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No, you will not be forced to close your business. After all, that is your income, and how could you pay into a 13 without it
Not sure exactly what you mean though when you ask if your business has to be included????????You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing
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Is the "business" a separate legal entity, or are you a sole proprietor.Comment
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i am sole prop.Comment
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We're dealing with Amex right now with our business card. We used it for personal items and they said that is against the terms and conditions and illegal???Filed: October 1, 2007 341: December 10, 2007
CONFIRMED: December 10, 2007
Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!
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Ok, business can't file chapter 13, so it is good that you are a sole prop, and not a separate entity.
However, as has already been pointed out, in order to file chap 13, you need to have "regular monthly income"
Any particular reason you need to do a 13 vs a 7. If at all possible, you should file a chapter 7 if you qualify.Comment
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