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Small Business Account charge off, what happen to it after my business close?

Hi,

I had a s-corp but things didnt go well, I owe like $150 in washintong mutual (mostly over draft fee) in my small business account... but since my business is dissolved, do I still need to pay it? (the customer service was HORRIBLE and I really don't want to pay) is this going to affect my credit? or just my business's credit?
Please help.
Thanks

I have owned many s-corps and yes it will affect your credit if you signed a personal guarantee. I promise you the bank made you sign one. A personal guarantee states that you are responsible if the business does not full fill its financial obligations. If you signed a personal guarantee you would know because they will ask for your social security number when you open the account. All big banks require personal guarantees on business checking accounts regardless of incorporation status. Pay it. It will come back to haunt you if you don't. Overdrawing an account and not paying is also considered fraud. Which is a crime.

it will not effect your credit but they could put you in chek system which would really be bad!!!

you'll need to get it off your credit report here is a how to guide http://www.adviceontime.com/Credit/Credi... hope it helps you out

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