Legal Question in Credit and Debt Law in Utah

Hello, I am a small business owner who in July decided to add a truck to my fleet, I went to Kenworth and asked many questions about if the truck is repossed what would happen, they assured me that nothing could happen to me personally, 2 months later I turned in the truck now they are making many threats and saying I am personally responsible for this, they sold it at a auction with out notice and now want the balance in full, I thought it was all done under my business EIN, what rights do I have here?


Asked on 1/07/10, 12:16 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

It depends on the terms of the contract for purchase that you signed. If it has a personal guarantee or is in your name, you are personally liable.

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Answered on 1/12/10, 1:53 pm


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