Tax Credit Llc
November 21st, 2010
Question: Can LLC debts go on my personal credit report?
My LLC went under, but stills owes money on a credit card machine lease that hasn’t been paid on in months. I opened the account before there was a tax ID, so they used my SS#. Can they affect my personal credit or am I protected by the LLC?
Answer: Many companies that offer leases and revolving accounts get business owners to back them personally. Hence, your SSN. So yes, you personally backed the lease and you’ll be on the hook for it.
When you set up an LLC or Corp, you have to keep everything totally separate or just assume that you’ll be responsible for whatever you pick up on the personal side.
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