Legal Question in Bankruptcy in Illinois

I signed for two new auto leases last year for a business i was involved in. I drive one vehicle and the other is being used for the business. Both leases were signed by me using my SS but they are in the companies name under their tax ID #. The business is planning on filing bankruptcy in the next couple months. I do not want my credit to be affected because they stop paying for the one vehicle payments during the bankruptcy. How is my credit affected if the leases are under the companies name but using my credit? How will this affect me? Thanks!


Asked on 8/31/15, 6:22 pm

1 Answer from Attorneys
Charles Andersen Charles Andersen, Atty

It shouldn't be a problem unless you agreed to personal liability somewhere in the fine print.

If you file bankruptcy and there is no contractual obligation between you as an individual and the leasing companies, don't hesitate to call. I handle fair credit reporting lawsuits. http://www.abc27talkback.com

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Answered on 9/01/15, 7:44 am


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