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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 53996
Experience:  Attorney with 29 years of experience.
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I had a business and I went went out of business, closed and

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I had a business and I went went out of business, closed and desolved the corporation. I could not pay some vender bills. I tried to start another business to pay the ones that would work with me until I could not afford it more. Am I legally obligated to pay with out not signed a personal gaurantee?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. You are not personally liable for the debts and liabilities of your business as long as you did not sign a personal guarantee. Your corporation is a limited liability entity and the corporation's creditors can look only to the assets of the corporation to collect their debts. Your personal assets are not at risk.



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Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!