I am a part-owner in a sub-S corporation and may have to file C13 bankruptcy protection. I will definitely do anything I can to avoid C7 as I make okay money and I owe the debts I have w/out dispute. I do not want them voided out on the rest of us. Anyway, it is my understanding that under C7, my stock shares would be included in any liquidation (of course that is assuming they are worth anything, which they are not, my business is winding down due to newer technology and will be phased out over time anyway) and my sub-S has actually reported business loss for the past two years. My question is - under Chap 13 protection, can they touch my partner or anything else in my business such as equipment (computers, fax, etc)?

Thanks you for all your advice and time!

Under chapter 13, nothing is touched to start with, nothing of yours, nothing of anyone's, you keep everything but merely get put on a payment plan to pay everyone.

If I file Chapter 13,what percentage of debt has to be paid back? Thanks