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Thomas Swartz
Thomas Swartz, Attorney
Category: Legal
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Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
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I opened a credit card in 2000, as sole propreitor, became

Resolved Question:

I opened a credit card in 2000, as sole propreitor, became S corp in 2005, closed business in 2010, now being suied for the credit card balance, am I liable?
Submitted: 5 years ago.
Category: Legal
Expert:  Thomas Swartz replied 5 years ago.

Did the credit card remain in your own name, or was it changed to the corporation's name? If the credit card remained in your name then you would be liable. If it was changed to the corporation, you can not be held personally liable for the corporation's debts.

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