Legal Question in Bankruptcy in Florida
My wife has a business, things have gotten bad. She started putting things on a credit card it was to be in the corporation name, now they are coming after her.
Am I responsible For her debt ? Mr worried
1 Answer from Attorneys
The corporation debt should be insulated from your personal debt, i.e. you should not be liable for the corporation's debt. The corporation is legally a separate person. If the corporation tanks, you - and your wife as President (assumption) - should not be liable for business debts if/when declaring bankruptcy.
If your wife becomes personally liable for the corporation's debt, and she incurred the debt during your marriage, then you would be liable for half.
It should be okay, but be sure to consult with an attorney in person before and if shit hits the fan.
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