Legal Question in Credit and Debt Law in Iowa

credit card liability

I signed for a Line of Credit as President of an Iowa corporation which has since disolved. A collection agency has now filed an action against me personally for the amount due after settlement. Is there anything I can do? Am I liekly to be found personally liable?


Asked on 1/10/09, 7:12 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: credit card liability

I am not sure I understand how there could be an "amount due after settlement." If the debt was settled, there should be no amount due. Yes, you may be personally liable since the corporation no longer exists.

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Answered on 1/13/09, 10:01 am


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