I signed several car loan contracts as an officer of a car rental company which is incorporated. The monthly payments fell behind and the cars had to be been returned for auction. Thus the loans have gone partially unpaid. My question is can the lenders come after me on a personal basis or my property. I know I have limited liabilty being under the corporate name but it appears they state I signed for the loans thus I owe the money. My partner had the corporate name dissolved but has recently been reinstated. Should the creditors go after the corporate name and him. Thanks for a your reply!
Joe

Hello Joe:

If you signed a PERSONAL guarantee, then you'd be liable. If you didn't, then you're not.

excon