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Mutt · 11-24-2009, 12:20 PM

did you do all you could with a good accountant before going into this venture to protect your personal assets in case this venture failed? it doesn't sound like it. i'm no expert but i do have friends who've gone into various businesses - retail, restaurants/bars - and they've had those businesses go tits up but never had to go into personal bankruptcy. though one I do remember was sued by the landlord of a mall for a big amount who said the corporation set up for this retail store was a corporate veil - they settled in the end.

11-24-2009, 12:20 PM
Mutt Too lazy to set a custom title Industry Role: Join Date: Sep 2002 Posts: 34,431	did you do all you could with a good accountant before going into this venture to protect your personal assets in case this venture failed? it doesn't sound like it. i'm no expert but i do have friends who've gone into various businesses - retail, restaurants/bars - and they've had those businesses go tits up but never had to go into personal bankruptcy. though one I do remember was sued by the landlord of a mall for a big amount who said the corporation set up for this retail store was a corporate veil - they settled in the end. __________________ I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!