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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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If a person takes a bankruptcy for a subchapter S corporation

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If a person takes a bankruptcy for a subchapter S corporation which he owns, is he personally liable for the debts of the company that constitutes the subchapter S corporation?

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 only be liable for debts that you personally guarnateed, any debts, or leases not on your name but on the S Corp. will not be your liability

Customer:

Thank you so much. That answers my question.

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