My personal finances are completely out of control and the only way out I see is filing for bankruptcy. My only concern is my corporation as it has more debts than assets. Do I need to include my corporation too?

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The corporation is a complete separate entity which can file bankruptcy only if its officers and directors who decide.

If you are filing bankruptcy, you have to list the stocks that you own in the corporation as asset. However, if the corporation is not in a good shape, the value of your shares can be zero.

Technically, you should hire an experienced bankruptcy lawyer to look into the entire situation.

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Last Updated on: Fri, 8 Jun 2018

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