Business included?

When adding up all assets, do you have to include a business that if sold would be worth some money? It is the only source of income and if it was sold, I would not able to pay the amount to settle the debt of the proposal.

Posted from: Ontario

One Response to “Business included?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

When you are listing out all of your assets you are correct that you need to include the value of the business. It makes no difference whether it is your sole source of income or not, it must be listed or the resulting consolidation loan will be based on fraudulent information and will be overturned.