What Happens To Personally Guaranteed Debt In A Business Bankruptcy?

Submitted by Anonymous (not verified) on Tue, 05/13/2014 - 22:57
Description: 

When a business files for bankruptcy and closes its doors, it is filing a chapter 7 bankruptcy. This means that the company or corporation will no longer operate under that name and will no longer transact any business whatsoever under that name. Provided the corporation has no assets, creditors are unable to collect on their+ Read MoreThe post What Happens To Personally Guaranteed Debt In A Business Bankruptcy? appeared first on David M. Siegel.