This may appear to be a silly question, could you not sell the store or perhaps close it down for a few months. I realize that would disway customers and eventually drive them to other bakeries but the reason I asked is because there is a guy here in TN that decided not to File BK on his business downtown, but decided to close it down for business after 6 months and re-open it. Business is picking up now that he re-opened it..earlier this month already. Rockin35

That is a good idea too. Did he vacate the premises or did he still pay rent?
Also, maybe this small business owner could find a partner. It is a long shot, but I would imagine after being in business for yourself it would be hard to go back to work for someone.

This may appear to be a silly question, could you not sell the store or perhaps close it down for a few months. I realize that would disway customers and eventually drive them to other bakeries but the reason I asked is because there is a guy here in TN that decided not to File BK on his business downtown, but decided to close it down for business after 6 months and re-open it. Business is picking up now that he re-opened it..earlier this month already. Rockin35

I own a small bakery that has been the joy of my life for the past couple years. Unfortunately, after the economic downturn, it was never really able to make a profit and I’ve been accumulating a lot of debt. I fear that I will have to file for bankruptcy soon. Even though I really don’t want to give up on my store, I don’t really see any other option. I’ve been looking into California lawyers that could help explain my options and what type of bankruptcy I should file. Anyone have any experience with a good California Bankruptcy Attorney? "We are not creatures of circumstance; we are creators of circumstance." - Benjamin Disraeli

Couldn't you file a chapter 11 bankruptcy? That way you can restructure without having to give up your business? Michael Doan is a good bankruptcy attorney. He is actually a shark, very evil to creditors, he catches every little mistake they make. I believe he has offices in San Diego and Riverside.

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That is his website, his firm is located all over Southern California.

Side note: do you all remember that bakery in the 80's called La Petite Boulangerie? That place rocked.

I own a small bakery that has been the joy of my life for the past couple years. Unfortunately, after the economic downturn, it was never really able to make a profit and I’ve been accumulating a lot of debt. I fear that I will have to file for bankruptcy soon. Even though I really don’t want to give up on my store, I don’t really see any other option. I’ve been looking into California lawyers that could help explain my options and what type of bankruptcy I should file. Anyone have any experience with a good California Bankruptcy Attorney? "We are not creatures of circumstance; we are creators of circumstance." - Benjamin Disraeli

yes i agree that you should ask a bk attorney and you must also tell something about how the bankruptcy occured and when it took place.

have you filed yet ? I filed 5/07...the attorney asked for these questions..at the hearing the trustee asked me too...to be honest with you I don't think they even check....at least they don't where I live....I was told horror stories from my attorney about the equity we had in our home and how they were going to make us pay money every month for like 2 to 4 years to buy out my own equity and how my car had too much equity...nothing was ever mentioned...we just walked away from the debt with our tails between our legs!!!!..my attorney even told me I had to include all my credit cards..some I didn't think were necessary...he told me " you can't do that!!!!!!! they will close you anyway...well I did and guess what they didn't even know I filed and when he told me(after I didn't give him the info on the) anything I didn't include would be charged off too..I thought sh****t I might as well not even pay them...and the after 3 months I found out they had no idea and I ended up losing them anyway because I didn't pay them...

Yes, I think you need to an attorney. It probably depends on what kind of bankruptcy it was (there's more than one kind) and how long ago the bankruptcy was declared. Lots of fine print...

You need to ask a BK attorney that question unless someone else here has an answer for your question. Sorry, can't help you out with this one.

I understand that if someone is bankrupt and inherits money/property then it goes to the trustee (?), but if the value of inheritance is more than the debt then does the bankrupt person ever see the remainder of it?
thanks