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    donjuanlove's Avatar
    donjuanlove Posts: 1, Reputation: 1
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    #1

    Jun 11, 2011, 09:35 AM
    Can starting a new corporation protect me from bad debts?
    Can starting a new corporation protect me from my old bad debts?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Jun 11, 2011, 09:50 AM

    Hello don:

    It's not as simple as that... If your PRESENT funds are your PERSONAL funds, as in, NOT presently corporate funds, then you CAN'T transfer then into a corporate account to AVOID paying your creditors.. That's fraud.

    excon
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