I am in over my head. I have a lot of personal debt and fighting a tax bill ( personal with Rev Can) Its not looking good and if I have to pay ( not sure right now) it will be the straw that breaks my back and will have not choice but to seek some kind of bankruptcy… My question is I own part of a small business that loses money or barely makes anything it is incorporated will this bee affected if I go bankrupt? Or what ways can I keep that asset from being affected it will take many years for it to make money but I want to me sure it is okay. My income comes from a Job I work.
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
This really depends on what is owned by the business and how it is set up. As long as within the business you don't have significant assets, then typically you don't have to worry a bankruptcy having to significant of an impact on the business, but it is good to contact a local trustee.