Is business protected

[sansim]

I'm in Texas. If I file a consumer bankruptcy is my sole proprietorship and partnership interest protected? I am a general partner in a business in Oregon. The business is not making any money yet but I hope it will soon. My sole prop is because I work from home doing bookkeeping. Since moving to Texas a year ago my income has dropped to $350 a month and my expenses total $2000 a month (mostly credit card debt). I'm worried if I file a bankruptcy my partnership will be affected and I don't want to injure my partner. I have not made any money from the partnership but signed an equipment lease for $30,000. The partnership makes the payment on it.
Thanks in advance.

 

[djohnson]

Is the business LLC or incorporated? If you signed personally for the lease, you would have to include it. There is a difference in a 'company' and self employed.

 

[sansim]

general partnership

Although I live in Texas I formed the partnership in Oregon. It is a two person general partnership. We have a tax id# and get schedule K1's. We both signed the lease agreement.