Subscribe To This Site
XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines
Home
Blog
Popular Topics Being Sued?
Bankruptcy
Medical Debts
Foreclosure
Settling Debt
Credit Reports
Article Directory
Deceased Debts
Free Resources Free Worksheet
Q & A
Complaints
Alerts
The Book Our Book
Buy Now
Testimonials
The Authors
Site Info Newsroom
Privacy Policy
Partners
 

Personal Guarantee of business loan

I'm filing chapter 7 bankruptcy in florida. i have a few credit cards that are in business name that i had personal guarantee. from what i understand, the personal quarantee will be discharged but the card companies can file a judgement against the business. the business is an s-corp - no assets, but incme flows through the business to pay bills, etc...then pay myself. what are the consequences if cc company files a judgement?

Comments for
Personal Guarantee of business loan

Click here to add your own comments

Jul 27, 2010
Personal guarantee of debt for an s-corp
by: Mary

Thanks for getting in touch.

I am not an expert on s-corps, so I am not qualified to answer your question. Since you are filing for bankruptcy, I assume you are working with a bankruptcy attorney. Therefore, you should talk with your attorney about your question.

If you are not working with a bankruptcy attorney, I strongly advise you to hire one. (Bankruptcy is an extremely complicated process and to maximize its benefits and avoid creating problems for yourself, legal help is essential.) If you do not want to hire a bankruptcy attorney for some reason, then I suggest you get your question answered by talking with a business attorney.

Best of luck resolving your problem.

Click here to add your own comments





News stories


free ebook chapter