Sole proprietorship after bankruptcy

January 21st, 2013 by Questions

I currently am a self-proprietor. Unfortunantely due to hardship and tax debt both personal and business tax I have become overwhelmed and will be filing for bankruptcy in the near future. Will I be able to be self employed with my own business after bankruptcy? Or because of tax debt is this not an option?

Posted from: New Brunswick


One Response to “Sole proprietorship after bankruptcy”

, A licensed trustee said:

Certainly, you may be self employed and own/operate a new business after you file. BUT while you remain an undischarged bankrupt (ie while you are still in the bankruptcy) you will have to file and pay your taxes on time. If you don’t you will have to appear in Court and the Court will not release you from yor bankruptcy until all your new taxers are filed and paid.

There’s no point filing if you are just going to turn around and run up a new tax debt again…

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