personal guarentee contract

[anthony james]

I signed a sign rental contract in mar.97
and closed shop mar.98 Contract was a monthly
payment for three yrs. I called sign co. to
come and pick up sign in mar.98 and they said ok. that was the last i heard from them. A
year and a half later they started asking for the full amount.It went to collection and I refuse to pay because they got the sign back.Now they are suing me for the balance and they have had the sign since mar.98
They are saying because I personally guarenteed payment that I have to pay the balance of the contract.If I have to pay, am I entitled the sign back.Really I don't want the sign but, If I had to pay, could I demand the sign before I pay. thanks for any advice antjam

 

[lawrat]

I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.

What do you mean you personally guaranteed payment?

The way I see it is you would pay if you had the sign. You had them take the sign back hence ending the contract.

I would need to see the terms of the contract to give a definitive answer.


BUt, do this:

Read the FDCPA (Fair Debt Collections Practices Act) at the following website: http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm