Legal Question in Credit and Debt Law in Arizona

Personal guaranty for business purchases

We are contemplating bankruptcy for our busniess and potentially personally as well. We purchased some vehicles for our business and would potentially like to give the back as a part of the bankruptcy. My question is this...our personal guaranty states that the guaranty will remain in effect even in the event of bankruptcy, sales of business or death of the guarantors (they would attach to the estate). Is there a way to file and make this debt go away as a part of the bankruptcy or will we obligated to pay the vehicles that we may give back.

1 Answer from Attorneys

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Arizona

Looking for something else?