Hello members,
I bought two retail stores. One is fair but the other, I plan to close it this month. I am a S-corp but much of the debt is backed by personal guarantees. This still has few years left on the lease, I don't draw much income from the business because I can barely service the debt I have accumulated. My wife has a good paying job and has no part of the failing business. I am wondering if I take a personal bankruptcy what is the impact on my wife and her credit?
Thank you.