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I very recently got involved with a friend who has an

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I very recently got...

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.

Lawyer's Assistant: What state is this in? And when did the issue begin?

As his partner I am able to take out bank loans.

Lawyer's Assistant: Has anything been filed or reported?

Not to my knowledge, I have only filled out and on line partnership agreement, we have also filled out life insurance documents.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

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: 7 months ago.Category: Business Law
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Answered in 8 hours by:
9/6/2017
Business Lawyer: Damien Bosco, Attorney replied 7 months ago
Damien Bosco
Damien Bosco, Attorney
Category: Business Law
Satisfied Customers: 4,249
Experience: Helping you with your legal questions.
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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.

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Business Lawyer: Damien Bosco, Attorney replied 7 months 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?

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Business Lawyer: Damien Bosco, Attorney replied 7 months 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.

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