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Law Girl
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I own a LLC if I disolve the company do I file ...

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I own a LLC if I disolve the company do I file personal or corporate bankruptcy can they come after me personally?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Law Girl replied 8 years ago.


Thank you for your question.

Whether anyone can come after you personally to satisfy the debt of the LLC will depend on whether you personally guaranteed any finances, loans or debts that were in the name of the LLC. A good indication is any sort of loan application or debt application that required your personal income information to qualify for the loan and/or debt. If you have personally assumed any of the debt or finances of the company, then they can come after you personally. In which case if you are contemplating bankruptcy, escaping all of the debt will require personal and company bankruptcy.

Please let me know if you have any other questions, or require clarification of this matter. Otherwise please hit "ACCEPT", so I may receive credit for my response. Tips and feedback are also appreciated.

Good Luck!



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