January 21st, 2013 by Questions


Please tell me if I own a small business, and my only income is coming from there, but I still own money on it for the previous owner, can I keep it if I file for bankruptcy?

Thank you

Posted from: Alberta


One Response to “bankruptcy”

, A licensed trustee said:

It will depend on the terms of your purchase agreement and whether or not any security was pledged and registered. Likely you should book an appointment to meet with a trustee in your area and take copies of the pruchase documents with you. The trustee should be able to tell you what will happen to the business, if anything…

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