Credit Card Liability

What is the name of your state?What is the name of your state? KS

The owner of the company I worked for passed away almost 3 years ago. A credit card was established in the company name, guaranteed by the owner. There was a $7500.00 balance on the card.

After the owner passed away, I purchased 100% of the stock from his son. Am I liable for this credit card debt? My name was never on the account, only the corporation's name, and the President of the company. The card has not been used since his passing.

Thanks.

[badapple40]

The corporation is liable for the debt. You are not personally liable. There is no theory here to "pierce the corporate veil." However, the owner's estate also has liability, but such liability is likely to be secondary to that of the corporation.