Ohio Bankruptcy, Dayton Bankruptcy
bankruptcy attorney in Dayton Ohio

Can I file bankruptcy only on my personal or just on my business debts?

Can I file bankruptcy only on my personal or just on my business debts?

: Richard West Law Office

You can discharge both personal consumer debt and business debt in bankruptcy.
You should be aware, however, that what gets discharged is your personal obligation to pay the debt. Depending on the kind of business entity that you may have, for example, a corporation, that business may continue to owe the debt because the corporation is a separate entity from the consumer personally.
For most people, particularly folks who have their own businesses, there is not very often a legal distinction between the personal liability on the debt and the businesses liability on the debt.

More Filing bankruptcy Videos