I’m a startup founder who took on about $50k personal debt to get my company going. My company is making money but only convering operating expense. Haven’t paid myself a salary and savings are dwindling.
I figure in a year I can pay myself at least living expenses.
Will it hurt my chances of getting angel funding or VC money to have a bankruptcy on record?
Or could it be looked at as a Trump move to reorganize the debt. Remove the personal debt obligations which is causing me stress.
Anyhow company is incorporated and separated from personal. I could secure a loan under new company so used credit cards to fund it to cash flow positive.