Legal Question in Bankruptcy in Florida

Auto lease under S Corporation and CH-7

Is a personal bankruptcy recorded against my S corporation so as to hurt its credit? I needed to personally guarrantee some small lease items. I intend the corporation to lease a car. Thankyou


Asked on 11/12/97, 8:36 pm

1 Answer from Attorneys
William W. Fernandez, Sr., J.D. Law Ofc. Wm. W. Fernandez, Sr., J.D., Atty. at Law

Fla. Personal Bkruptcy. & Sub. S corp.

Legally your Co. is not in Bkrupcy. However, the trustee may own your corp. stock unless you claimed it exempt.

Realistically, unless your co. has significant assets, you are your co. If you have enough exempt assets and are willing to pledge them, you might convince a leasing co. to accept your guarantee. You can try.

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Answered on 11/13/97, 8:35 am


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