Sunday, December 6, 2009

Am I a legal Creditor to my Chapter S Corp?

I own 100% of a Chapter S growth as well as building a whole association in Washington state.  Over a past 2 1/2 years we have made well documented loans to my association (850K +) to keep it afloat as well as have mortgage payments upon different pieces of investment property we own through my business.  As such, if I'm forced to file for failure insurance (Chapter 7 many likely) will we be considered a creditor by a failure court?  When various creditors ask to see my Personal Financial Statement can we legally list myself as a creditor to my company?


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