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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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If I signed a personal guarantee on a construction loan for

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If I signed a personal guarantee on a construction loan for my company and the compnay runs outr of money, can the bank come after me for the loan personally even if they did not sign the bank papers and I did?
Yes. You guaranteed the business debt, so you are treated like a cosigner, if the business doesn't pay, they can collect from you. It is arguable that there is not a valid contract, but you would have to prove the offer wasn't accepted. You would need to rescind your offer if they have not finalized it.
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