Legal Question in Credit and Debt Law in Florida

business credit card debt

My business recently closed, and I have a 100,000 business credit card and lines of credit debt with the same bank and that I am personal guarantor... what are my choices, since I have no money to keep paying those debts..


Asked on 3/28/07, 11:10 pm

2 Answers from Attorneys
Michael Stewart Michael D. Stewart

Re: business credit card debt

You should contact an attorney to review the guaranty and to, if necessary, negotatiate a settlement down the line.

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Answered on 3/28/07, 11:28 pm
David Slater David P. Slater, Esq.

Re: business credit card debt

Your potential liability will depend upon the type of business entity you have.

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Answered on 3/29/07, 4:22 am


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