Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - What happens to me if my business files for bankruptcy? - I own a Quizno's franchise, about 3-4 years old. Financial conditions have gotten so bad, that I cannot afford to make my loan payments anymore. I am strongly considering filing for business bankruptcy, if no reasonable deal can be reached with the bank. If I do file for business bankruptcy, what will happen to me personally, if anything? My is business is in a partnership, although my partner does not have many valuable assets. I own a house with 60% equity and have some liquid cash in the bank. Any help would be appreciated. Serious answers only please. Only answer this question if you know what you are talking about. Thanks in advance to everyone who answers. -