[raybbr]

I have a good friend going thru a chapter 13 bankruptcy right now - price of diesel killed his business (trucking). Not much income, but he can’t sell his house either to get at the equity he has left, so he has to file a 13 to protect the equity he does have.

I thought most of the "reforms" affected individuals not corps?

[Orange1998]

What is good for the goose is good for the gander. Corportations should play by the same rules.

[RegulatorCountry]

I thought most of the "reforms" affected individuals not corps?

Many small business owners have had to put their own credit on the line, in order to secure credit for their businesses. If the business defaults, the finance company goes after the personal. I know that defeats the whole purpose of the "corporate veil," but it's reality these days. I know GMAC asked me for my personal credit info, the last time I purchased a company vehicle.

[nicola_tesla]

He’d signed some personal guarantees - many small, new businesses do when starting out, because no one will give credit to an unknown corporation (unless they don’t need the money :) ).