0
If you owned a small percentage of a company that closed and the primary owner used personal credit cards to finance it and now claimed bankruptcy can they charge you for the cc debt?
Wiki User
∙ 19y ago
This would depend upon the terms of the contract which established the debt. If your former partner was the sole personal guarantor of the debt, it doesn't matter who else owned the company. If you co-signed or were joint on the account, then you have shared liability, regardless of the outcome of the business venture. If you did happen to be jointly liable for this debt; his bankruptcy discharged all of his liability. You would now be 100% liable for the balance. Conversely, if you were an authorized user on this account, you do not meet the definition of "debtor" under the Fair Credit Reporting Act. Although it is typical, it is not proper (or legal), for this to show on your credit report. Authorized user have NO liability for such accounts, even if they personally made the charges. Only account holders in a contractual agreement are legally liable for the debt.
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
If you file for personal bankruptcy can you still be the CEO of a publicly traded company?
Sure
Can a company ask you to pay them 4 years after they were given notice that you claimed bankruptcy and they were listed?
Nothing stops them from asking you for it, but you must assert your rights under the bankruptcy shield.
Can an H1B sponsored employee file for personal bankruptcy without involving the sponsoring company?
Yes. Personal banruptcy does not relate to the company where the person is employed.
What is the best auto insurance company if you have claimed bankruptcy?
There is no best insurance company for a Bankruptcy. Some Insurance Companies will not accept application for coverage from people with a bankruptcy. Some will accept you application but may charge you a higher rate. Yet other companies just don't check credit at all so it would not matter to them if you've had a bankruptcy or not.
Does personal bankruptcy effect business credit?
In a Proprietorship, the personal bankruptcy of the proprietor may cause shut down of business. Whereas in Partnership and Joint Stock Companies, bankruptcy of Partners, Directors effects business credit immensely as bankers become shy in extending further credits to the company.
Can you force a company in receivership into bankruptcy?
Recievership is bankruptcy.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
How do you find out if your bankruptcy has been discharged?
Call the attorney or company that handled your bankruptcy.
If your company declares bankruptcy does this discharge your guaranty?
If the company is a corporation and you personally guaranteed the debt, the corporation's discharge of its debts does not discharge your obligation. If the company is you as a "DBA" then more than likely the discharge of the DBA (doing business as) discharges your personal guarantee.
Where is it possible to find services from AMPD mobile?
AMPD mobile was a network founded in 2005 and soon defunct in 2007. It is no longer possible to receive services from AMPD Mobile, as the company has claimed bankruptcy and no longer exists.
Has 84 Lumber Company filed for bankruptcy?
no...
Did 84 Lumber Company file for bankruptcy?
NO
