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Category: Bankruptcy Law
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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?


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


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


Thank you so much. That answers my question.

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