We were shareholders in a TX corporation, which is out of business after having its assets surrendered to the bank holding an SBA loan. We are now getting telephone demands for personal repayment of the outstanding credit card debt, including calls at my new place of employment, claiming that we are personally liable since the company is gone. They have now gone so far as to shut off our personal credit card with an excellent payment history over the past 15 years.

Can they hold us personally liable for this debt if we did not sign a specific guaranty agreement (which the credit card company has yet to provide us a copy of)?

Hello syl:

Nope! But, you don't seem so sure that you didn't sign one. If you did, they don't have to provide it until you're in court.

I'd write 'em a letter. Tell them, pursuant to the Fair Debt Collection Practices Act, of 1968, that you ORDER them to CEASE any and all contact with you. Send it certified, return receipt requested.

The only thing they can do then, is sue you, and that's exactly where you want to be (assuming you DIDN'T sign one of those pesky personal guarantees).

excon