Legal Question in Bankruptcy in Georgia

Possible Bankrupcy of my Incorporation

I live in Alabama but my incorporation is located in Georgia. I am a builder and my bank is saying they are going to sue me for default on my loans with them. If I have to file bankrupcy will I lose my personal property such as my home, car, etc. I did sign a personal guarantee at the closing of the loans.


Asked on 12/19/07, 3:56 am

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Possible Bankrupcy of my Incorporation

Corporate bankruptcy does not protect your personal assets if you signed a personal guarantee. Since you are in Alabama, you need to talk to an Alabama lawyer.

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Answered on 12/19/07, 6:54 am
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Possible Bankrupcy of my Incorporation

Corporate bankruptcy does not protect your personal assets if you signed a personal guarantee. Since you are in Alabama, you need to talk to an Alabama lawyer.

Read more
Answered on 12/19/07, 6:54 am


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