Bankruptcy

I am the sole proprietor of my medical practice in NM and was the subject of a political witch-hunt at my former hospital (which I am now suing). I left that town (where my practice had been booming) and opened a new office in another town/another hospital. The net result is that in order to keep my practice afloat during this time, I relied heavily on credit cards, and am now heavily in debt. I am considering BK, but would like to know if there's a difference between personal BK and BK for a sole proprietor. Does Chap 11 apply to a S.P., or would I have to stick with Ch 13 (if I want to keep my practice open)?

I know my practice will pick up again, but right now I can't pay my bills.

The best advice I can give you at this point is to see an attorney. Contact the NM Bar Assoc. and ask for a bankruptcy attorney referral. Try to get one who specializes in business filings. Most will give you a free 30 minute consultation.

Many Dr's file Bk and keep their practices going. However, ensuring that the filing is done correctly is essential, and advice on the subject is beyond the scope of what's discussed on these boards.