corporation bankruptcy

[delossantos13]

What is the name of your state? California

To whom it may concern,
My question is: If a business in California goes bankrupt, how far do collections go to retreive money. Do they collect from just you if you are single or do they go after your family and anyone near you? In addition does it make a difference if your corporation is registered out of state?

Thank you,

 

[bigun]

Depends on if anyone signed personal guarantees relating to hte business loan?
If you peronally guaranteed the financing then, lenders have recourse to you. If you didn't they're out of luck, The only claim would be against the assets of the corpIf any}