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I have had a successful ebay business for many years, filing schedule C as business on taxes (sole proprietor). The business has gone down and out and I need to file bankruptcy.
15 ANSWERS
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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See an attorney for assistance. You can file if necessary.
Answered on Apr 11th, 2013 at 3:14 PM
Having a business shouldn't prevent you from filing for bankruptcy. ege.
Answered on Dec 04th, 2012 at 12:44 PM
Daniel James Wilson
Small business and personal bankruptcy are complicated. Unless you personally guaranteed business debt the debts are those of the business not you. I have done a bunch of BKs for small business owners. If the business is failing I have owner dissolve company, distributing any business assets to business creditors, then take the owner through Ch. 7 to discharge personal indebtedness.
Answered on Dec 02nd, 2012 at 10:33 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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A Schedule C business (from Federal Income Tax Forms) is basically YOU. Therefore, in order to file a bankruptcy case for the business debt, YOU must file a bankruptcy case which would include all of your debt, not just the business debt. Consult with a bankruptcy attorney for more information.
Answered on Dec 02nd, 2012 at 10:21 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Dec 02nd, 2012 at 9:52 PM
Business Litigation Attorney serving Orange, CA
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Law Offices of Frank Granato
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You may bankruptcy on behalf of the business.
Answered on Dec 02nd, 2012 at 9:39 PM
Someone who is self employed may be eligible to file Chapter 7 or Chapter 13 bankruptcy. You may wish to start by preparing a profit & loss statement breaking down your income and business expenses broken down on a month by month basis before consulting with an experienced bankruptcy attorney.
Answered on Nov 30th, 2012 at 4:32 PM
Construction Litigation Attorney serving Mission Viejo, CA
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Law Office of Christian F. Paul
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It sounds like you are a sole proprietor, so the company's assets and obligations are your assets and obligations. You can find out whether bankruptcy is right for you by making an appointment to speak with a local bankruptcy attorney. Many give a half-hour conference for free. Take proof of your earnings, copies of all property deeds and vehicle registrations, your most recent tax returns, proof of all your current obligations and/or a recent credit report, and a list of your monthly expenses. These will enable the attorney to size up your situation and give you his or her take on your situation. This answer is based on very limited information and cannot be considered specific legal advice, merely a statement of general principles. No attorney-client relationship is created or intended. Good luck.
Answered on Nov 30th, 2012 at 4:32 PM
Probate and Estate Planning Attorney serving Harrison, MI
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David T. McAndrew, Attorney at Law
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Absolutely, if the debts are primarily business debts. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. It sounds like a downturn in the economy if Ebay has gone downhill.
Answered on Nov 30th, 2012 at 4:31 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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Yes you can
Answered on Nov 30th, 2012 at 4:31 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You should consult with a local bankruptcy attorney on what to do, and should probably file an individual bankruptcy at least.
Answered on Nov 30th, 2012 at 4:30 PM
William H. Von Willer
Yes
Answered on Nov 30th, 2012 at 4:30 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Yes
Answered on Nov 30th, 2012 at 4:30 PM
Bankruptcy Law Business Attorney serving Asheville, NC
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Pitts, Hay & Hugenschmidt, PA
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Yes, you file a bankruptcy on your ebay business.
Answered on Nov 30th, 2012 at 4:29 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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One myth about bankruptcy is that you can file a bankruptcy petition "on" a house, a business, a car, etc. When you file a bankruptcy petition, you include all aspects of your financial life. All of the assets and liabilities of the business that you ran would be included in the bankruptcy along with your all of your assets, including your home, personal property, cash, investments, etc., as well as all of your liabilities, including your personal credit cards, home, and automobile.
Answered on Nov 30th, 2012 at 4:29 PM