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Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 1779
Experience:  Experienced lawyer
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I very recently got involved with a friend who has an

Customer Question

I very recently got involved with a friend who has an existing business and decided to bring me in as a partner due to my good credit standing as his partner am able to take out banks. I need advice on how to protect myself financially. I have never ran a business so I just hear his side of everything.
JA: What state is this in? And when did the issue begin?
Customer: As his partner I am able to take out bank loans.
JA: Has anything been filed or reported?
Customer: Not to my knowledge, I have only filled out and on line partnership agreement, we have also filled out life insurance documents.
JA: Anything else you want the lawyer to know before I connect you?
Customer: we did get an $8000 cash loan from compass Bank and a $24000 credit card from navy federal which I have stop all further charges on that card after he transferred $7000 without my knowledge or approval.
Submitted: 1 month ago.
Category: Business Law
Expert:  Damien Bosco replied 1 month ago.

Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

Expert:  Damien Bosco replied 1 month ago.

Who signed for the loans? Was there any personal guarantee? Also, who signed for the credit card? Did you put any money in the business?

Expert:  Damien Bosco replied 1 month ago.

Hello. I have not heard back you. Are you still looking for help on your question? If so, please let me know. Thank you.