I am being sued by a contractor who racked up outrageous debts in a very short space of time and we are now at the point where a judge will decide which court the case is heard in. I am contesting a large part of the supposed debt and hope it will be heard in the small claims court.
My company has been hit hard by the recession and is strugling to stay afloat.
My question is-if there is a judgement against me and I then go bankrupt, can I be sued or chased again in the future for the same debt if I ever managed to build up another business?
Is there any advantage to going bankrupt now, before the court case commences?
Thanks in advance
L