corp bankrupty

July 9th, 2009 by Questions

i own corp and the and the corp is going bankrupty .the corp owns money on the credit card.the card is on my name and the corp name.i just want to know if that effects me or not.or do the creditors will come after me or not.

Posted from: Ontario

Questions

One Response to “corp bankrupty”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If the card is signed jointly by you and the corporation then you are jointly responsible. If the corporation files for bankruptcy this will ultimately absolve the corporation from any responsibility for the card, but the corporate bankruptcy cannot release you from that encumbrance. So personally you will have to make sure arrangements are made to continue making payments on that credit card.

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