My so called business partner took out some large loans on our corporation and now he is filing Ch 7 bankruptcy. I am told this will now be my responsibility to pay back. These loans were never agreed on and were done behind my back. He is the personal guarantor on all the loans. Can anyone point me in the right direction.

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Originally Posted by mwwhite74

My so called business partner took out some large loans on our corporation and now he is filing Ch 7 bankruptcy. I am told this will now be my responsibility to pay back. These loans were never agreed on and were done behind my back. He is the personal guarantor on all the loans. Can anyone point me in the right direction.

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I would see a corporate Attorney immediately. This is nothing to guess about. The exact corporate setup will be important.

Quote:

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Originally Posted by mwwhite74

My so called business partner took out some large loans on our corporation and now he is filing Ch 7 bankruptcy. I am told this will now be my responsibility to pay back. These loans were never agreed on and were done behind my back. He is the personal guarantor on all the loans. Can anyone point me in the right direction.

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Thank you