By filing chapter 7 personal bankruptcy including business credit card debt?
By filing personal bankruptcy (chapter 7) including business credit card debts with personal guarentees; do I also have to file for business chapter 11 bankruptcy because of these same credit cards or will the pesonal filing take care of them without involving my business?
Posted May 8th, 2010 in Bankruptcy Q and A. Tagged: bankruptcy chapter 7, business chapter, business credit card, chapter 11 bankruptcy, credit card debts, credit cards, filing personal bankruptcy, guarentees.
Ur best bet is to Go seek legal advice. That’s not stuff you want to take someones word at unless they have details and know the law well……. Consults are typically free
May 8th, 2010 at 1:13 pmI wish you the best
Kourtnie D.
Prosperity Financial
The Chapter 7 bankruptcy is applicable if you have no regular sources of income. It works by reducing or clearing off all your debts. You can then make a fresh start without having to worry about having to pay your debts.
Once you file for Chapter 7 bankruptcy, the bankruptcy court assigns a trustee who works as an intermediary between you and the debtors. He oversees everything and checks out if the bankruptcy plan is going as planned.
May 8th, 2010 at 1:13 pm