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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17210
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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BUSINESS LOANS THAT I CANNOT PAY. THERE ARE NO ASSETS TO SELL

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BUSINESS LOANS THAT I CANNOT PAY. THERE ARE
NO ASSETS TO SELL BUSINESS CLOSED CAN THE BUSINESS TAKE BANKRUPTCY OR WILL I PERSONALLY BE HELD RESPONSIBLE

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on

WALLSTREETESQ :

You would not be personally liable unless you co signed the debts,

WALLSTREETESQ :

you do not even have to file a corporate bankruptcy,

WALLSTREETESQ :

you can let the creditors go after the corporation and take whatever is there,

WALLSTREETESQ :

You can also file a bankruptcy if you wish, and all the debts of the corporation would be discharged.

WALLSTREETESQ :

If you co signed the debts, you would have to file a bankruptcy to get rid of the liability

Customer: replied 3 years ago.

THESE ARE LINES OF CREDIT . SO IF I SIGNED AS PRESIDENT I AM


PERSONALLY RESPONSIBLE IS THAT CORRECT

If you signed as president, it would not be clear if you are liable, as you are signing as the corporation president, if you guaranteed the loan with your personal credit and social security number you would be liable, I would run a credit check on yourself to see if the loans are listed on your personal report.

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