business vs personal

[kingofspades]

I have a business that is going under. Me and my buddy started it over 6 years ago. Its a corporation. My question is, can I just BK the business, or does that fall under my personal as well. If I am just able to BK the business, what determines personal form business. If I pull my credit report does that determine what is all in my name and the rest falls under the corporate umbrella?

Thank you

[BKOnce]

Corporation = Business BK, LLC/Sole = Personal BK

[frogger]

You probably signed personal guarantees for anything the business owes, so you will probably have to file personal bk.

[StartingOver08]

There is a very good link to an article/website by Moran Law tohelp you answer this question: http://www.moranlaw.net/struggling.htm

[HHM]

You normally would not BK the business, but simply stop operating and allow it to die. As was mentioned, most (read ALL) the debts are fundamentally in your name personally; so you would do a personal BK.