Bankruptcy guide

Sole Proprietor Bankruptcy

Use this guide to organize Personal, Business Debt Overlap, Assets, Taxes and Chapter 7 Or 13 Questions. Start with the controlling record and date, then connect the issue to the bankruptcy chapter, property, debts, and local procedure that may change the answer.

Define the question before choosing an answer

Use this guide to organize Personal, Business Debt Overlap, Assets, Taxes and Chapter 7 Or 13 Questions. Start with the controlling record and date, then connect the issue to the bankruptcy chapter, property, debts, and local procedure that may change the answer.

Evidence file for Sole Proprietor Bankruptcy

Personal

The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.

Business Debt Overlap

Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments.

Assets

Ownership, current value, liens, acquisition date, supporting records, expected payments, and recent changes.

Taxes

Tax type and year, return filing date, assessment, transcript, balance, lien, levy, audit, and payment history.

Chapter 7 Or 13 Questions

The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.

Facts that shape the review

  • Separate the entity from the individual: ownership, guarantees, taxes, leases, payroll, receivables, collateral, and recent owner transactions may point to different options.

Issue log

Issue Evidence to preserve Open question
Personal The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.
Business Debt Overlap Entity records, owners, guarantees, accounts, receivables, inventory, leases, taxes, payroll, assets, and insider payments.
Assets Ownership, current value, liens, acquisition date, supporting records, expected payments, and recent changes.
Taxes Tax type and year, return filing date, assessment, transcript, balance, lien, levy, audit, and payment history.
And Chapter 7 Or 13 Questions The controlling document, exact date, amount or value, people involved, current status, and the source that can verify it.

Questions that can change the next step

Question Your facts
What exact outcome is needed?
What date changes the next step?
Which fact remains unverified?

Timing caution

If a sale, hearing, deduction, seizure, shutoff, or response deadline is near, use qualified local help rather than waiting for general online information.

Verify with current sources

U.S. Courts Bankruptcy Basics · Official Bankruptcy Forms · Current Means Testing Data · Official source directory

Prepare the next conversation

Business debt checklist