Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - How does it work if someone who owes you money declares bankruptcy? - I sold as small business a couple of years ago. At the time the buyers had good credit. I owner-financed the business for 5 years. They are only 2.5 years in. After a year they sold it to someone else and the business is still strong. Now they are 2 months overdue and say they are meeting with a bankruptcy lawyer. It was financed with a personal guarantee. what are my options? -