You might think pursuing commercial financing is just like applying for a loan for your home. If so, you are incorrect. We are talking the ultimate case of apples and oranges here.

It sounds like your wife wants to make a gift of the money, expecting nothing in return but the undying love of her last born son. You, on the other hand, don't know if you should offer the money as a loan (should I loan him the money) or as an investment (worried that my investment will be lost). Until you can make that distinction, your money should remain in the bank.

Know when you need to talk with a bankruptcy attorney and what they will do on your behalf.

The declaration of bankruptcy is a huge step, not to be taken lightly. Consider the alternatives before making such a drastic step.

Sometimes that established or new business gets to a point where it costs you more to run it than the revenue it produces. Sometimes that happens with personal finances too. Make sure you consider all the options before filing bankruptcy, and if you need to file, make sure you understand the ramifications of bankruptcy law.