B
brucevoiles
Guest
What is the name of your state? Tennessee
Nine years ago I signed a Personal Guarantee with a material supplier to open a credit account for my business that was a corporation. Six years ago I sold the corporation and notified the supplier of the sell and instructed them to close the credit account and release my guarantee.
The material supplier is now trying to sue me personally to collect a debt from that corporation. It claims it does not have my notification of the sell. I have not been able to find my documentation yet. What are the limits of a personal guarantee?
Nine years ago I signed a Personal Guarantee with a material supplier to open a credit account for my business that was a corporation. Six years ago I sold the corporation and notified the supplier of the sell and instructed them to close the credit account and release my guarantee.
The material supplier is now trying to sue me personally to collect a debt from that corporation. It claims it does not have my notification of the sell. I have not been able to find my documentation yet. What are the limits of a personal guarantee?