It depends upon the type of your business and also in that you are doing your business solo or in partnership. If you are doing solo, then according to low you are totally responsible for your business you business is you. If in case to discharge your business debt, then you would have to file a personal bankruptcy. And it can affect your credit up to 10 years. If you are doing business in partnership and you are a general partner, but if your credit debt is not paid by liquidation then all the partners are responsible for unpaid debt. In few cases LLC, corporation, or limited partnership bankruptcy can affect your personal credit.