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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2659
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I have a C-corp that has not made any money in a couple years.

Customer Question

I have a C-corp that has not made any money in a couple years. I took an SBA loan with it a few years back and am about halfway through with the repayments. However the debt burden is becoming less and less manageable and I am seriously considering the corporation filing for bankruptcy.
If I did that, would I be personally liable for the remainder of the debt incurred by the corporation?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

Hi JACustomer,

Did you personally guarantee the SBA loan?