My husband has incurred a significant amount of business debt and the business has since closed down, over a year now, and we are having a difficult time making the payments. We are currently one month behind and are struggling. How does this affect his personal credit and what can they do to us if we default?

What was the legal set up of the business? D/B/A, incorporated, personal name?

And did he personally guarantee business debts?

It was incorporated and I think he as a personal guarantee but they are not showing up on his credit report, why and what does that mean?