Business Bankruptcy Bnkruptcy and Personal Assets

[larryclucas]

Can business bankruptcy affect personal assets?

 

[army judge]

If the business isn't incorporated, yes.

 

[disagreeable]

Or under certain circumstances, there is a an action dubbed "piercing the corporate veil".

 

[Betty3]

Here are a couple of good links to read:

http://www.nolo.com/legal-encyclopedia/business-bankruptcy-affect-credit.html

http://www.nolo.com/legal-encyclopedia/business-debts-personal-liability-bankruptcy-29573.html

 

[shellerdevin]

It depends upon Business and its background