<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by GPTDesign:
I have a small LLC company. I can get a credit card in the company name from several sources without difficulty, however, I wanted to have a company credit card with "cash back" features (1% cash back on all purchases made). I can only get that type of card by setting it up in my personal name. I did so and I use the card "only for company purchases" and make monthly payments "only by company check". Does the fact that the card is set up in my personal name cause me to loose some of my protections afforded by the LLC setup? I do not use the card for any personal usage and always pay the bills with company check. Does this still make me vunerable in event of future law suits against the company??<HR></BLOCKQUOTE>
My response:
Yes. You signed a Personal Guarantee Agreement, which takes the debt out of any LLC protections you may have had.
IAAL
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