Business Debt Can Be Personal

By |2022-08-24T14:26:20+00:00August 24th, 2022|Bankruptcy|

Corporations generally exist to insulate business owners from liability. Business, including contracts, conducted in the name of the corporate entity, only, carry no personal liability for the individual. However, most lenders are aware of that and often require a personal guaranty to approve business credit. For example, many vendors have now included such a guaranty