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#1
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Corporate debt, now personal?While employed as a treasurer for a corporation, I signed a contract to lease some equipment. About a year later, the corporation dissolved and the equipment was returned. Now, the equipment leasing company is coming after me personally, stating that I signed a personal guarantee and the contract was noncancelable. I don't remember signing a personal guarantee, but it is possible. The leasing company has a terrible rating from various consumer watchdog organizations and I think they are harassing me. This has now appeared on my credit, which prior was perfect. I'm undecided as to weather I should hire an attorney, attempt to fight it on my own, pay the $2800 they want, or just not use credit for 7 years! |
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#2
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proofHave you asked for a copy of this signed contract? You should find out exactly what they are referring to, and if the equipment was returned, why are they coming after you? Did you sign a contract through your company or through the outside leasing company? Don't forget to dispute it with the credit reporting agencies. |
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#3
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reply to firemanThanks for your help. I've returned the equipment (credit card terminal), but they still want to get paid through the end of the contract. It was a 5 year contract and we used it for about 1 year. They say it is uncancelable in any circumstance. I've disputed it on my credit report and haven't heard anything back yet. The original contract was between a private leasing company and my old corporation with me as a personal guarantor. To fulfill the final four years, they want $2800 and I don't think that is fair. I know that AZ is a community property state, so they can't enforce a judgment against me since all of my assets are community assets. Do you think if I continue to stonewall them and fight the credit bureau info, they will eventually give up? |
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