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Submitted 204 days ago...
Going From Sole Proprietorship to C-Corp: Will credit card debt collections go after the newly incorp biz or just stick with my personal credit.
I started a sole proprietorship business in 2006 and had 4 business credit cards for the business.
I encountered some financial problems and was unable to pay the credit card bills since about April 07. The accounts were written off but I still get collection calls on them and they state that I am personally responsible for the debt since the biz is a sole proprietorship (which is understandable).
Question: I want to incorporate the business (C-Corp) and I am wondering if the collection companies will go after the newly incorporated business regarding the debt or will they still just see me personally responsible for the debt? (will the debt be on the newly incorporated business credit or just my personal credit?)
Also how would bankruptcy for personal or business credit help?
Thank you
Lisa Maine
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