Legal Question in Credit and Debt Law in Florida
My partner and I have an LLC in Florida. We opened a business credit card account with Bank of America. Although they asked for and I gave them my social security number, I was told, and they convinced me beyond a shadow of a doubt, that I would not be personally liable for the debt and that my personal credit would not be affected. I did not sign anything, nor was I asked to do so.
About a year later, the business was not generating any money (due to the poor economy), and was not able to pay its bills. When I received the first phone call from BoA, I made a payment over the phone using my personal account and money from my "real" job. (It was later explained to me that it is a mistake to mix personal income with business dealings). Since that time the business still has not earned any money and has not been able to repay its debt or make any payments.
I recently received a letter from BoA stating that I am the guarantor on the account and that my personal credit is being affected. I called the bank and requested that they send me the document that I signed and therefore accepted this responsibility, or send me a copy of the document that states that I am the guarantor when I opened the account.
All that Bank of America has sent me is a letter thanking me for the inquiry, and that they apologize for not being able to located the requested documents.
Bank of America has twice taken money, involuntarily and without notice, out of my personal accounts, totaling $5100, to make payments toward the account.
Finally: Am I obligated personally for this debt? Do I have any legal recourse for this matters? Is it possible to recoup the $5100 of my personal money?
What my my plan of action be?
Thanks in advance for a help.
2 Answers from Attorneys
Your credit card contract probably said something like "By using this card, you are that you personally guarantee all charges..."
But, they can't provide that agreement. That's their job, not yours. I suggest you take them to small claims court, which maxes out at $5,000, which means you lose $100, but it save you the lawyer's fee. If they can't come up with the personal guarantee agreement, you get your money back.
Look at my web site, www.ConsumerLawyerHelp.com on from letters and follow instructions on how to fix errors on credit report.
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