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Since 2012, me and my wife have owned a Day Spa in

California registered as an s-corp...
Since 2012, me and my wife have owned a Day Spa in California registered as an s-corp (50/50). We offer, day spa treatments like facials, massages, and body treatments. We also sell regular and promotional certificates. Regular gift certificates don't have any discount, and can be issued for a specific amount, or a single/group of services.Our insurance didn't cover the issue for which we are being sued for. Since we didn't include permanent make up (tattoo) in the initial list of services we offer.The business has been sued, and we don't know how is going to end. If the business files BK:
- What is my potential liability?
- Can they come after me/us as an individual?
- What happens to the pending certificates?By the way, we don't have any assets as individuals, no investments, real estate or savings.
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Answered in 1 minute by:
10/16/2017
NYCLAWYER
NYCLAWYER, Attorney
Category: Bankruptcy Law
Satisfied Customers: 58,100
Experience: LICENSED NY AND NJ BUSINESS LAWYER
Verified
From facts mentioned I see no personal liability or exposure. By closing the entities that should end it! Good luck. Please let me know if the reply is acceptable by responding “yes” or “acceptable”
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Customer reply replied 1 month ago
What about the certificates?
They can be sold or assigned. Otherwise would cancel too.Please let me know if the reply is acceptable by responding “yes” or “acceptable”
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Kindly rate me five stars.
NYCLAWYER
NYCLAWYER, Attorney
Category: Bankruptcy Law
Satisfied Customers: 58,100
Experience: LICENSED NY AND NJ BUSINESS LAWYER
Verified
NYCLAWYER and 87 other Bankruptcy Law Specialists are ready to help you
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Customer reply replied 1 month ago
If the s-corp files bankruptcy would that affect my credit?
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NYCLAWYER
NYCLAWYER
NYCLAWYER, Attorney
Category: Bankruptcy Law
Satisfied Customers: 58,100
58,100 Satisfied Customers
Experience: LICENSED NY AND NJ BUSINESS LAWYER

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