Legal Question in Business Law in Georgia

Dissolving Business & Credit Card Debt

I am dissolving my S-Corp due to the

business failing. I have approximately

$15K in credit card debt that is in the

name of the corporation. Am I

personally liable? I believe from my

CPA that I am not, that if the

business is dissolved, the debtor has

no one to go after. But, can I be

listed personally as being responsible

for the debt, as I am the S-Corp?


Asked on 8/14/07, 9:00 pm

1 Answer from Attorneys
John Jackson Law Office of John A. Jackson, P.C.

Re: Dissolving Business & Credit Card Debt

I have bad news. You are likely personly liable. Look at your credit card agreements. There will most likely be provision where you agreed to be personly responsible. Good luck.

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Answered on 8/14/07, 9:56 pm


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