I have a small business that I started with my business partner two years ago. It is an S-Corporation. We opened up a line of credit and credit cards under our company name with our ourselves being the guarantors of that debt with our property. My business partner quit earlier this year and I am now the sole owner of the company. However, my partner's name is still listed as being a guarantor of the debts. If I decide to file the company for bankruptcy, what kind of effect will it have on us financially and to our personal credit? I would appreciate any advice. Thank you.
