2006-07-29 12:01:05 · 7 answers · asked by casino 1 in Business & Finance ➔ Small Business
not if you filed business bankruptcy that should have covered the credit cards..if it just plain failed...then yes you have to pay it...otherwise everyone would own buisnesses and not worry
2006-07-29 12:04:40 · answer #1 · answered by worldsbesthighfiver 3 · 0⤊ 0⤋
Hi casino,
Some incomplete information already given to you.
Regarding personal asset protection or liability "forgiveness" after a LLC or Corporation dissolves; if you did anything that could show cause that you did not operate the business in good faith or adequately enough, a situation may occur where creditors can "pierce the corporate veil", and this is bad news. The other way is if you were a personal guarantor on any of the accounts.
More info on the coporate viel:
http://en.wikipedia.org/wiki/Corporate_veil
2006-07-29 21:30:15 · answer #2 · answered by ~Trey 3 · 0⤊ 0⤋
I can't quote business law, so you might want to get more information later, but if your business was a corporation, I don't believe you would have to, but for small Business, I believe you are still liable as you were the business owner.
2006-07-29 12:06:45 · answer #3 · answered by amondriscoll 3 · 0⤊ 0⤋
depends on how the business was set up
Sole proprietor: Yes
LLC: No
Inc: No
For any other info please contact a lawyer. I am going by when I collected state taxes
2006-07-29 12:05:47 · answer #4 · answered by ML 5 · 0⤊ 0⤋
it really depends on what type of company you open. the best way is to consult a professional
2006-07-29 12:39:34 · answer #5 · answered by overstockto 2 · 0⤊ 0⤋
If you ran up the debts, you have to pay.
2006-07-29 12:04:51 · answer #6 · answered by clarity 7 · 0⤊ 0⤋
yap
2006-08-01 22:40:51 · answer #7 · answered by Swayam Prakash 3 · 0⤊ 0⤋