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Old 09-25-2009, 11:57 AM
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Getting out of Business Loans

What is the name of your state (only U.S. law)? Louisiana
How can i get out of business loans without affecting my personal credit. My LLC folded in April 2008.
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Old 09-25-2009, 12:01 PM
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Quote:
Originally Posted by sportsman51 View Post
What is the name of your state (only U.S. law)? Louisiana
How can i get out of business loans without affecting my personal credit. My LLC folded in April 2008.
Do you remember signing a personal guarantee???
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Old 09-25-2009, 07:02 PM
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As far as I remember, I did not sign a personal guarantee. One loan was a simple business loan from my local bank, the other is a loan from the local parish (county) govt, who provide low interest business loans to small businessmen.
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Old 10-21-2009, 05:12 PM
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bankster

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Originally Posted by Wirelessany1 View Post
Do you remember signing a personal guarantee???
Yes i did sign the personal guarantee for the bank credit line. i am thinking filling chapter 7 Business Bankruptcy can not afford to make the payments
being in housing products business my business is slashed 50% in sales, still strugling just to survive
  #5  
Old 10-21-2009, 05:15 PM
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Originally Posted by Bankster View Post
Yes i did sign the personal guarantee for the bank credit line. i am thinking filling chapter 7 Business Bankruptcy can not afford to make the payments
being in housing products business my business is slashed 50% in sales, still strugling just to survive
um....ok...so you hijacked this poster's thread just to tell us that?
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