confused about what to do--business partner folding

[q10133]

Hi.

Basically, my business partner is filing a Chapter 7 and the business is being dissolved.

I would like to start the same business, but use my own credit to buy my own inventory.
I am worried that one of the creditors from the 1st business will try to suck me in to his BK and claim tht I used money or assets from the old business / business partner to start my new business.

How do I start up a business and avoid this? I would prefer to only have a sole propeitorship. Will that work?

If you continued a business during / after what did you do?

[overstressed]

update?

Hi there,
Can you give me an update? Same story as mine, but I'm the one filing BK. I want to avoid dragging her in at all costs.

We have finance the business with only my name and the business on the CC, and didn't think she was held liable .

Have you restarted? How did you divy up assets? Did you have to pay her anything for continuing a business you built together?

Hope all has turned out well for you and that you are both in a better place now.