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If we have debt that is not personally guaranteed business

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debt. If we default...
If we have debt that is not personally guaranteed business debt. If we default on it can the creditor due us or come after our personal assets.
Submitted: 5 years ago.Category: Bankruptcy Law
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4/6/2012
Bankruptcy Lawyer: Roger, Attorney replied 5 years ago
Roger
Roger, Attorney
Category: Bankruptcy Law
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Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.

 

If the loan was made to your business, and there is no personal guarantee by you, then you are not individually responsible for the debt.

 

Instead, the creditor's only recourse would be against the business and its property/assets.

Roger
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