tala asked:


What about a lawyer that will not charge too much? I have very limited income.

rndybenedict asked:


I have ownership in a “C” corporation. I have a couple questions.

One of the partner’s opened a credit card account with $30,000 credit limit (which we have maxed). While this is a corporate card, he opened it under his name (i.e. his credit score would be affected in the event of a default; so he says) Is he solely responsible for any recourse the card company may take in the event we go bankrupt?

We have had numerous stock issues to award partners who have put in more effort than others. Because I have put in more effort, I now own proportionally more of the company than our initial monetary investments. I talked to one of the senior partner about this. He said there are more “risk” associated with having more ownership of the company. He indicated if indeed we did go bankrupt there are many fees/costs associated with the bankruptcy which need to be paid (attorney’s, court filings – I assume). And the burden is shared in proportion to the share of ownership. Is this correct?

I always thought with C corp. your personal liability is limited to your monetary investments.