Thanks for this -- I am exploring the site. The biz was incorporated as a S corp. The loan was secured with assetts but those were sold off to cover biz expenses, so the former company has no value at all.
Is this sounding like a cop out to get out of debt I should pay for myself? OR is...
Army -- exactly. IF I declared a business bankruptcy and don't have the loan personally guaranteed, can they still report this Biz CH 7 to MY personal credit.
Thanks a bunch for your input.
Hello and thanks for having me on your board.
I need some simple advice to decide what to do with a sizable amount of debt associated with a company I dissolved.
I recently dissolved an Inc. in Ky that I sold off clients and liquidated assets to pay off debt accumulated through bad...