Legal Question in Business Law in Missouri
I have a friend that is starting a business with his dad and brother. He has an old school loan from the 80's. Their business is an LLC. Can the debtor come after his dad and brother and the company or just after him personally?
Asked on 7/30/10, 11:37 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
Just after him personally unless one of the other parties guaranteed or cosigned the school loan. Then they can come after the guarantor or cosigner. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Answered on 8/04/10, 1:30 pm
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