Divorce + Chapter 11 = Chapter 7 (help!)

[smallbusiness]

What is the name of your state? Massachusetts

I am going through a divorce, which has sunk the family business. A Chapter 11 is looming. I have tons of personally guaranteed loans, so a Chapter 7 will happen. In the meantime, I am having more approaches from personal creditors than business creditors. Is there any reason not to file the personal Chapter 7 first, or should I wait until I am forced into it by the Chapter 11? (For example, I am four months behind on rent at home. I can fend them off, and move and deal with the lawsuit, or file Chapter 7.)

Does the order of CH's 7 and 11 matter?

 

[Sebaatian]

Hmm.

Are you going to keep the business going?
If not, what is the total secured and unsecured debt?

Why haven't you been evicted?

 

[smallbusiness]

Good questions...

I had intended to keep the biz going, but now I am not so sure given the climate. I have not been evicted because the landlord gave my wife the OK to leave even though she was a co-signatory of the lease, and has been lenient