Legal Question in Business Law in Illinois
If I have an alarm system under my business name but the business goes under and I still have a balance, can they damage my personal credit?
Asked on 6/24/10, 6:03 am
2 Answers from Attorneys
That depends on what kind of entitity the business was, whether all formalities were followed if an entity and whether you signed any personal guarantees.
Answered on 6/24/10, 9:16 am
Kevin B. Murphy
Franchise Foundations, APC
The other attorney is right on point here. A review of all facts, documents, etc. is required. This is not a simple bulletin board type question. Consult with a business attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Answered on 6/24/10, 12:32 pm
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