Sentences with phrase «responsible for those business debts»

If it is, the owner's personally responsible for all business debts.

Owners of sole proprietorships and partnerships remain fully liable for the debts and obligations of their businesses, but those who own corporations are not personally responsible for business debts.

Whether you like it or not, in most situations spouses are responsible for those business debts as well.

Not exact matches

One of the advantages of a corporation is that stockholders and officers in the business are not personally responsible for its debts.

It's responsible for more failed businesses, blown careers, and financial debt than you can imagine.

Many new business owners understand that incorporating or forming a Limited Liability Company (LLC) helps shield a business owner against being held personally responsible for their company's liabilities and debts.

By putting control of the business in the hands of a man who seemed «perfect» on the outside, but without doing due diligence, had the consultant skimming the profits and ultimately declaring bankruptcy, leaving Williams and Molinaro responsible for the debt on the chain.

You will also need to personally guarantee your loan, which makes you responsible for satisfying the debt if your business is unable to.

Liabilities: A company's liabilities are any financial debt or obligations that a company is responsible for due to its business operations.

A personal guarantee is a promise from a business owner that they are responsible for their business's debt should the business be unable to pay the debt.

Likewise, if the LLC goes out of business, you and your fellow members aren't responsible for the debts left unpaid.

If one of the business owners is willing to open a new credit account in their name, and be responsible for all debts posted to it, they can do so.

A personal guarantee also shows the lender that you are a responsible business owner committed to repaying your debts and willing to «put some skin in the game» for your own business.

The small - business owner is still responsible for the collection of debts, while the lender will generally advance 75 - 80 percent of the value of all receivables it deems acceptable.

If one of the business owners is willing to open a new credit account in their name, and be responsible for all debts posted to it, they can do so.

A personal guarantee is a promise from a business owner that they are responsible for their business's debt should the business be unable to pay the debt.

If the value of your business has recently changed (the purchase of a new building, inventory or equipment), be sure your life insurance limits are set high enough to cover business debts that your family could be held responsible for when you die.

But remember even though its in your business name in the end you are still responsible for the debt.

Chase has also redesigned its credit card program to provide consumer education on responsible credit management, tips and programs for getting out of debt, making Chase a premier company to do business with.

By signing this guarantee, you pledge to be personally financially responsible for your business's debts.

For example, if you set up a sole proprietorship or general partnership, you are responsible for all of the business's debFor example, if you set up a sole proprietorship or general partnership, you are responsible for all of the business's debfor all of the business's debts.

Further, if your business declares bankruptcy, depending on the type of business entity you have, you may or may not be responsible for the business's debts.

A personal guarantee means that you are personally responsible for the debt if your business does not pay it.

The only difference is who is responsible for paying the debt — you or the business.

Relatives are not responsible for the deceased member's debt, unless they co-signed for a loan, credit card, have joint ownership of a property or business or live in one of the nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

The business owner is personally responsible for the debts on a business credit card account.

The flipside is that you'll be personally responsible for the debts on the card, so if your business falls behind on its payments, the delinquency will show up on your credit report.

Entrepreneurs and small business owners are personally responsible for each and every debt of the business, whether the debt is a simple account payable, a warranty claim or a claim for personal injuries.

General partners: Owners of a partnership who are responsible for the management of the partnership, receive a share of the partnership's profits and losses, and who are personally liable for the actions of the other partners and the debts of the business.

If either you or your spouse gather any debt from student loans or starting a business both of you are responsible for paying it off.

She was among the core group of «rainmakers» responsible for the growth of the Firm's nationally recognized media and communications finance practice and has decades of experience representing lending institutions, private equity funds and businesses in structuring sophisticated debt and equity financings.

If the value of your business has recently changed (the purchase of a new building, inventory or equipment), be sure your life insurance limits are set high enough to cover business debts that your family could be held responsible for when you die.

Life insurance can provide your family with the money to cover business debts that they could be held responsible for when you die.

You are responsible for any and all debts you incur in the name of your business, and someone could sue you personally for business - related incidents.

For starters, anyone can be sued, and judgments can be collected from bank account seizures and wage garnishments; indeed, the smaller your business, the more likely you will be held personally responsible for debts through personal asseFor starters, anyone can be sued, and judgments can be collected from bank account seizures and wage garnishments; indeed, the smaller your business, the more likely you will be held personally responsible for debts through personal assefor debts through personal assets.

This provides the lender with peace of mind, and prevents your family or your business from being responsible for any debts you may leave behind.

A Finance Coordinator is responsible for maintaining business records, as well as creating and coordinating payment schedules for outstanding debts within a company.

Responsible for collections of commercial debt, received award for exceeding One Million Dollars in annual cash collections, skip trace and locate debtors, and worked with business owners to resolve outstanding liabilities.

He is also responsible for the strategy and growth of the business, serving as an advisor with regards to debt and equity products for Conlon & Co. and its domestic and international clients.

He is responsible for the day - to - day management of PCCP's debt business, which includes implementation of fund and individual client strategies as well as portfolio management.