http://www.bankruptcy-canada.ca/bankruptcy/2008/04/business-credit-cards.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 http://www.bankruptcy-canada.ca/bankruptcy/2008/04/business-credit-cards.html#comment-31073 Barton Goth GCO Bankruptcy Trustees Wed, 30 Apr 2008 13:00:35 +0000 http://www.bankruptcy-canada.ca/bankruptcy/2008/04/business-credit-cards.html#comment-31073 A business bankruptcy can only clear debts that are listed in the business name. As soon as a purchase is made on personal credit cards, regardless of whether the purchase was for the business or not, then the debt becomes personal. As such if the business declares bankruptcy the personal credit card debt will remain and you and your husband will be responsible for paying that card down. A business bankruptcy can only clear debts that are listed in the business name. As soon as a purchase is made on personal credit cards, regardless of whether the purchase was for the business or not, then the debt becomes personal. As such if the business declares bankruptcy the personal credit card debt will remain and you and your husband will be responsible for paying that card down.

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