Bankrupt an S-Corp? Iowa Indiana
**I am NOT in Iowa, I cant get it to go away though.
When we close the business this year, there will be $20K (LOC) in remaining debt. I think this LOC is unsecured, but I'll have to do some digging to be certain.
How will filing Chapter 7 bankruptcy affect my personal credit? Or does the corporation protect us from that?
This amount would take me a considerable time to pay back, but I will do it if it is going to adversely affect the my credit.
Any advice would be appreciated.