Legal Question in Bankruptcy in California

Re: Personal Bankruptcy

It shouldn't be affected at all, if it is really not worth anything.

Re: Personal Bankruptcy

I responded to your other question in more detail. If you disclosed your ownership interest in your bankruptcy papers and the trustee does not sell it because the property is exempt or has no value, it will remain yours. However, many credit applications for corporations will ask about the whether the owners, officers or directors have filed for bankruptcy. It should not impact the corporation's credit rating, but it might impact someone's decision to extend credit to the corporation.