Business Credit Cards

[s1man711]

I am in California and have some business credit cards through my LLC that I recently closed. These cards have me as the personnal guarantor but the card is in the name of the LLC.

I wanted to see what would happen if I were to stop making payments because I simply cannot afford them any longer. In reality, would the creditors come after me personally or can I get away with it since I closed the LLC?

The creditors are:

First National Bank of Omaha
Comerica
Chase

Thank you.

 

[davew128]

You DO understand what a personal guarantee is, right? Why do you think the lenders required it?

 

[Antigone*]

I am in California and have some business credit cards through my LLC that I recently closed. These cards have me as the personnal guarantor but the card is in the name of the LLC.

I wanted to see what would happen if I were to stop making payments because I simply cannot afford them any longer. In reality, would the creditors come after me personally or can I get away with it since I closed the LLC?

The creditors are:

First National Bank of Omaha
Comerica
Chase

Thank you.

I guarantee that you signed a personal guarantee for these cards. You are on the hook