Business Credit Cards and Individual bankruptcy

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Business Credit Cards and Individual bankruptcy

I am a partner in a business and I filed Chapter 7 bankruptcy which is pending discharge. Included in the bankruptcy was a credit card with the business name on it but listed under my social. This card was used personally not for business. Because it has the business name on it will the business still be liable for the debt.

Asked on June 15, 2009 under Bankruptcy Law, Kentucky

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

From what you've told me, it's hard to tell, but if the account is listed as a company liability in the company's bankruptcy, that will be how it's handled.

Whether that's really appropriate, I'm not ready to say, since I don't know all of the facts of your case, including whether your partners knew about this and went along or not.  Your best bet is to ask an attorney in your area for advice you can rely on, based  on all of the facts of your situation.  One place to find a qualified lawyer is our website, http://attorneypages.com


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