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/biz/ - Business & Finance

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55669821 No.55669821 [Reply] [Original]

So let me get this straight. If you get a business credit, and you go bankrupt (L.L.C.), they can't Jew you personally even if you tank the credit, all the banks can do is take everything the L.L.C. has?

>> No.55669988
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55669988

Not necessarily.
https://en.wikipedia.org/wiki/Piercing_the_corporate_veil
>Although courts are reluctant to hold an active shareholder liable for actions that are legally the responsibility of the corporation, even if the corporation has a single shareholder, they will often do so if the corporation was markedly noncompliant with corporate formalities, to prevent fraud, or to achieve equity in certain cases of undercapitalization
If you do something illegal, expect them to come after your dumb ass.

>> No.55670006

>>55669821
Banks aren't retarded, and they will require you/members of the LLC to personally guarantee the loan. Also, any reputable lender won't actually give your LLC a line of credit until you have been established for at least two years with proof of income.

>> No.55670078

>>55670006
Your best bet at stealing from the Jew is personally debtmaxxing multiple amounts that aren't worth taking you to court for. For example if you have 3 credit cards with a 3k limit each, you could most likely get away with maxing them out and ignoring collections for 7 years at which point you'll have a clean slate and your credit report won't show what you've done. For those 7 years though, no one will give you a loan for anything you wouldn't even be able to qualify for an FHA loan.

>> No.55670242

>>55669821
You'd be best off debtmaxxing individually, your freshly formed LLC won't be getting any credit unless there's some DEI reason.

>> No.55672719

>>55670078
>build my credit for years
>800+ score
>buy new house, car, etc at low interest
>get 5-figure credit card thanks to good credit
>max it out
>delete phone.exe
>wait 7 years
>do it all again
>repeat until dead
Is life really this easy?

>> No.55672765

>>55672719
Yes, this is the debtmaxxpill

>> No.55673153

>>55672719
lien

>> No.55673196

>>55672719
no they will come and take your car/house

>> No.55673692

>>55669821
I've done this because I had to and yeah that's the idea but you have to go to make a list of all the shit you own and then go to multiple court hearings and of you're caught trying to game the system they buttfuck you big-time. It's basically hell-lite.

>> No.55673949

>>55673196
credit cards are unsecured loans and those assets can't be repo'd in most places.

>> No.55674000

>>55673196
the house and car that i have sold and put it all into bitcoin?

>> No.55675180

>>55669821
maybe