Can I file bankruptcy only on my personal or business debts? | The Golden Law Group | Helping Residents & Businesses Get Financial Stability | (813) 413-8700 | https://www.brandonlawyer.com | 808 Oakfield Drive, Ste A, Brandon, Florida 33511 | 9040 Town Center Pkwy, Bradenton, Florida 34202
If you have a business that is a separate entity, such as a corporation or an LLC, you may be able to file bankruptcy just for the business. However, there’s a good chance you may have personally guaranteed the business debt. If that is the case, then you are also personally liable for the debt, so if the business files bankruptcy, the debt falls back on you. In those cases, you will probably want to file both a personal and a business bankruptcy.