Can a small business file banruptcy if a corp and not have it effect personal accounts?

Asked 9/28/2009 under Bankruptcy | 201 View(s) | More Legal Topics

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Bankruptcy Law Answers

Yes, you can.  Generally, corporate debt doess not effect personal accounts.  However, to the extent that you may have signed for some of the debt, for example if you personally guaranteed company loans, then you may face certain legal liability. 

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