Legal Question in Consumer Law in Utah
Guarantor liability on credit card
Is a credit contract that waives notice, demand or consent of any kind to renew, altar, compromise....enforceable against a corporate guarantor that latter resigns from his position still liable for the debts under the line of credit where the 100% owner subsequently increases the line of credit ten fold without the knowledge or consent of the orginal guarantor? The line of credit was signed in 1995 for $10,000 and was defaulted upon in 2002.
Asked on 12/20/07, 8:25 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Guarantor liability on credit card
This forum is designed for more general questions, you need specific advice after an attorney reviews all of the specific documents.
Answered on 12/25/07, 11:50 pm
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