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INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
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Experience:  Licensed attorney helping individuals and businesses
11313492
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Hi, I am lentillem radio listener.Last two yerars ago,I signed as guarantor for my brothe

Resolved Question:

Hi,
I am lentillem radio listener.Last two yerars ago,I signed as guarantor for my brother's family who running the store in shopping center.The lease was 3yrs contract and 6000/month.After a year they were out of business and closing the store .First my Brother trying to resort when they closing the store.But it did't work out,after a year collecting agency is collecting the whole amount of rents plus extra fee.That is two wweks ago.Now my brother is contecting with land lord.
My Questions is
What will happen if they cannot afford to pay what the landlord asking monthly payment,even though they are willing to resorting?
What should I do during this time?
Submitted: 5 years ago.
Category: Legal
Expert:  INFOLAWYER replied 5 years ago.
Hello, I am legal expert at Justanswer and I will be helping you with your question today.

This is a very good question and important as far as you are both concerned. Landlord if money is owed and a settlement cannot be reached, would like sue both of you for a money judgment for what is outstanding.

Once a judgment is obtained the landlord can pursue bank accounts, lien on real estate.

Consider not having large sums in bank accounts and also having a consumer protection lawyer/business lawyer negotiate with landlord a manageable settlement. www.martindale.com is an excellent directory.

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