Legal Question in Credit and Debt Law in California

I co-owned a business, and was bought out 10 years ago. At the start of the company, I gave a personal guarantee to open a credit card account. Since then I have had no part in the company, until I recently received a phone call from a debt collector indicating my name was still on the account and I am responsible for the debt the company has since incurred. Am I going to be held liable for these charges?


Asked on 7/08/11, 10:05 am

1 Answer from Attorneys
kevin sullivan Law Office of Steven Kremer

There is a good liklihood that as a personal guarantor of the account you will be held liable for any delinquent payments/debts owed. However, without seeing the guarantee and knowing more about your situation I cannot say for certain.

Has a lawsuit been filed? I am happy to give you a free consultation. I am a former creditor attorney and my law partner devotes most of his practice to bankruptcy. Between us maybe we could figure out the best course of action for you to take.

Call me at 415-441-1052.

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Answered on 7/08/11, 10:44 am


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