eclipse559
Junior Member
What is the name of your state (only U.S. law)? CA
I have an S corp that has debts with credit cards and vendors that the business has been unable to pay. With the way the economy is going we will never be able to catch up. What should we do? File Bankruptcy or just dissolve the S Corp and shut the doors? What debts will we be personally liable for? They are all unsecure ccards or lines of credit in S Corp name with no personal guarantees.
Thank you in California
I have an S corp that has debts with credit cards and vendors that the business has been unable to pay. With the way the economy is going we will never be able to catch up. What should we do? File Bankruptcy or just dissolve the S Corp and shut the doors? What debts will we be personally liable for? They are all unsecure ccards or lines of credit in S Corp name with no personal guarantees.
Thank you in California