What happens to my corporation if I file personal
bankruptcy? If a business owner, entrepreneur, or corporate
shareholder files for bankruptcy, it can affect the business, its partners, or its shareholders
and assets. It all depends on the way in which the business
is legally organized whether it is a sole proprietorship, partnership, LLC, or corporation. The best thing you can do is work with a lawyer
who can help you structure your business in a manner that provides the greatest protection
should you encounter personal financial struggles.