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If a small company incorporated files for bankruptcy will the bankruptcy show up on your personal credit report?
Wiki User
∙ 15y ago
You will need to get a final answer from your Attorney, but if you presonally gauranted in loans of any kind for your business then chances the answer will be yes. It happened to my dads comapny many years ago. IF IT DOES Their are ways to have it removed from your credit.
Wiki User
∙ 15y ago
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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.
Does business bankruptcy affect personal credit?
If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.
Where can you find information about corporate bankruptcy laws?
Does corporate bankruptcy affect personal credit?
Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?
"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."
If your car was repossessedand the company who sold the car to you is filing bankruptcy do you still owe?
Yes. Since the "Car Sales Company" went into bankruptcy, your financial agreement with your "Creditor" (bank, credit card, credit union, etc...) has not dissolved the loan. Check with your creditor (who you send your monthly to?) and/or continue paying for your car. This will help you keep your own personal credit in good standing.
Can you obtain a business loan after personal bankruptcy?
A personal bankruptcy can remain on your credit history for up to 10 years, which can make it difficult to get a business loan; however, if your business credit is established as a completely separate entity from your personal credit, you may increase your likelihood of getting a business loan.
How long does a bankruptcy stay on your personal credit report?
It can stay on your personal credit report for up to 10 years, but most credit reporting agencies will remove it after 7.
How long does personal bankruptcy stay on your credit report in Ma?
ten years
If a credit card company sues you can you file bankruptcy?
Thier actions, or lack, do not effect your ability to file for bankruptcy.
Is it difficult to repair credit after a bankruptcy?
Yes, it is very very difficult to repair credit after a bankruptcy. Once an individual or a company goes to bankruptcy, then all of the belonging of them are taken by the bank & thus there is nothing left to repair with.
Stopping a bankruptcy order over credit card?
Been paying a credit card under a payment agrement the company sold on the debt to another company and the have sent a letter and a draft of a bankruptcy order for the full amount!
What has the author Charles Price written?
Charles Price has written: 'Life after bankruptcy' -- subject(s): Bankruptcy, Consumer credit, Personal Finance
