Business Credit Cards

[golfprojim88]

Business Credit Cards from personel business Chapter 7 !!Helpneeded!!! Bankruptcy!!

Hello I am in CALIFORNIA and I have used business Credit Cards for some personal use. The business is my personel mail order business its an Individual business. In a chapter 7 Bankruptcy will I be able to discharge all of my credit card debt including my business Credit Cards. Even though some of the charges were not for business purposes? Will I have to file 2 forms of bankruptcy business and personel. I feel bad about using my business cards for personell use and feel I will be caught in the chapter 7 for it ?? Please answer my ? thanks [U]golfprojim88@yahoo.com[/U]
What are the laws for having business debt? In a chapter 7 can only part of the CC debt be discharged?

 

[djohnson]

You need to give more information. What type business (LLC, INC, etc..)? Do you own the business? When you say the card is a business card are you just an authorized signer or are you responsible for it? Are you wanting to file under just you or just the business? Please give more details and we will be able to help more.

 

[Elmo-1]

If this is a typical corporate card guaranteed by your company, you'd best pay it, or risk corporate rath / termination as an example for violating company policy if personal use is restricted.

Usually the contract signed to get the card makes the employer responsible to see that the lender is paid in full. The contract also typically has provisions that allow the employer to make payroll deductions to satisfy that promise.

Since these charges are supposedly reimbursable business expenses, the company's repayment isn't income and the charges aren't debts - in the true sense. My attorney said not to list corporate cards.

If you get the unauthorized expenses discharged, your company will have to pay a non-recoverable debt. Your career, and job are in the balance. Find a way to pay it and don't list the debt, otherwise get your resume up to date.