Closing a business - Still Owe?

0 ⤊

Closing a business - Still Owe?

I owned a corportated business for three years. I am now closing the business. I owe a few thousand on some phone book ads. I am going to try to pay them off but for right now I am in the negative. Can this affect my personal life? Will it show up on my credit report?

thank you

2007-03-21 07:28:57 · 2 answers · asked by Sam468 2 in Business & Finance ➔ Small Business

2 answers

if you are an s corperation you should be ok unless they sue you and the corporation, maybe next time do an llc.

2007-03-21 07:37:35 · answer #1 · answered by Mark P. 5 · 0⤊ 0⤋

You owe and you should pay. I would expect it would definitely affect your credit report!

2007-03-21 14:34:21 · answer #2 · answered by banananose_89117 7 · 0⤊ 0⤋