Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Have you personally guaranteed or signed for any of the debts for your LLC?
Are you there?
Yes - I am here.
If you have not personally guaranteed or personally signed for any of the LLC's debts, you cannot be held personally liable for those debts.
So it would not be necessary for you to file a personal Bankrupcy.
Additionally, it would not be necessary to file a business Bankruptcy, unless the business owns significant assets - such as property or equipment - that can be sold to pay its creditors.
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