- Oct 2, 2007
I''m looking for anyone that has knowledge about LLC''s. Its limited liability, and from what I understand, to protect yourself from being personally liable for your business debts, etc. Is that correct? My soon to be exe has multiple llc''s with quite a bit of debt. He''s now telling me that he will have to file bankruptcy personally because he cannot make payments. And by him filing bankruptcy, it obviously would fall on my shoulders, right? I never personally signed for anything, but I''m assuming I''d have responsibility due to just being the spouse, therefore forcing me into bankruptcy....What could the reason be for him to be personally liable for the things done through the llc?