How does incorporation affect bankruptcy?
Not even really sure if that’s the right question.
I’m wondering if, should I start my own business, I could walk away from a fiscal disaster?
Say I own NulloCorp LLC, which in turn owns $5,000 in cash and equipment and owes $10,000 in small business loans. And has no chance on Earth of ever being able to pay them. Could I walk away let the bank eat NulloCorp without it ruining my financial life?
This question is in the General Section. Responses must be helpful and on-topic.