More details to this question:
I have a c corporation in DE register over there with registered agents, and I am the only member or president in the Corporation and no other employee or any people, I'm doing online business and there was a problem with this vendors now I end up with a debt almost 10k and it will increase since this merchant under my company also more chargebacks will come I think. And I know in the end I will responsible for this chargebacks... Can I do bankruptcy for this corporation so I don't take responsible to pay this debt to the merchant company? if I can what documents that need to do this corporation bankruptcy and how much it will cost? Thank you
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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Business vs. Personal Bankruptcies
I certainly can't give a fee quote for all attorneys in Delaware, particularly since I don't practice there, but filing a bankruptcy for a corporation is not going to affect any personal liability you have, unless the corporation files a Chapter 11 case and pays all of its debts 100% plus interest through the Chapter 11 case.
Corporations don't receive discharges of debts in Chapter 7, but even if they did--as I mentioned above--it wouldn't affect your personal liability at all.
People often get business bankruptcy scenarios confused with personal. It sounds to me like a consultation for a personal bankruptcy is something you should seek with an experienced bankruptcy attorney in your area.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
Answered on Nov 24th, 2012 at 2:04 AM