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Ask HN: Do you personally owe debt to Stripe if business goes wrong?
If you start taking preorders by charging customers, later your project failed and all the customers filed chargebacks, do you personally end up owning debit to Stripe, personally if you were using LLC? Or you can just shutdown LLC and no one will care.
- dozzie 9y agoHow about you actually read your local laws or maybe consult a lawyer to explain those to you?
- xstartup 9y agoYea, but it will not open up this topic for a discussion. Stripe has been recommended here to newbies a lot of time, there is lots of risk in going around and accepting credit card payments from people you barely know. Some might end up foolishly thinking that they can just charge any amount using that API, withdraw that money and walk away.
- bradleyjg 9y agoThere's a couple of different issues: 1) What does your contract with Strip and/or your customers say? If you personally guarantee something then you are going to be on the hook. 2) Piercing the corporate veil. Although normally a limited liability entity does just that, there is a doctrine that allows the corporate identity to be disregarded. Google that phrase should help get you started on what's involved.
- xstartup 9y ago1) You can sign up on their website, they do not require you to sign any contract.