I have an LLC which bought a vehicle. I signed a personal garuntee on this note. If the LLC files BK on this note, will I personally be liable for the note?
2006-08-27 09:16:00 · 5 answers · asked by shaker454 2 in Business & Finance ➔ Other - Business & Finance
Only if he claims the loan on the vehicle in the BK. If he not, you are ok as long as he is making the payments. If he's not, you are screwed.
2006-08-27 09:19:33 · answer #1 · answered by WYGirl 2 · 0⤊ 0⤋
This is something you should have researched, and which you had an answer to, BEFORE you signed the note. Now that the transaction is complete, you need to consult a lawyer. If you guaranteed the note, then you're liable if the LLC doesn't make the payments.
2006-08-30 03:19:03 · answer #2 · answered by ? 5 · 0⤊ 0⤋
If u sign it and he doesn't make the payment then they come after you...Not something I would do.
2006-08-27 16:20:57 · answer #3 · answered by sweet_thing_kay04 6 · 0⤊ 0⤋
http://www.petitiononline.com/PP896/petition.html
save pluto by signing this petition
2006-08-27 16:23:16 · answer #4 · answered by kill b 1 · 0⤊ 0⤋
maybe
2006-08-27 16:23:55 · answer #5 · answered by kritikos43 5 · 0⤊ 0⤋