"I need someone help. I have just been sued for rent on a commercial lease for $123K with my husband. He was a manager for a lender for a new branch in our hometown and was ask to lease a commerical property to conduct their business. He ask me to sign the lease with him and than it was to be sublease to the lender. The lender was to be fully responsible to pay the landlord every month for the lease. But, the business was slow and the branch was terminated and closed leaving us with the bill. The lease was for 5 years and the business was for closed about 2 1/2 years into the business. This was an inhouse lending business but FHA changed guidelines and hurted the business so it had to closed. Loan officers had to be license so the business lost LO and business. We are being sued for such a large amount because we signed the lease contract for the company. We are barely making it in this economy. We lost our jobs, company closed down, and trying to do any types of job that comes along just to pay our bills. Is there any law outthere to protect us? Please help."

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Originally Posted by CatLy

" Is there any law outthere to protect us? Please help."

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Hello C:

Bankruptcy.

excon

I can not file bankruptcy because I just deed my house this yr to a corporation. What do you suggest!

So you own your house ( or corporation owns it, free and clear ?)

You hire an attorney and fight the law suit, showing that you merely signed as a manger for the company.

Was this company a corporation or private owned, if private owned were either of you one of the owners

The corporation owns the house. The loan is still in our name. The company that we worked for is a LLC. We are not the owner, nor associates in any ownership or franchise. My husband is merely the branch manager.

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Originally Posted by CatLy

I can not file bankruptcy because I just deed my house this yr to a corporation. What do you suggest!

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Hello again, C:

I don't see that act as a bar to filing bankruptcy. I suggest you visit a bankruptcy lawyer to find out definitively.

excon

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Originally Posted by CatLy;

I can not file bankruptcy because I just deed my house this yr to a corporation.

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Sounds like some sort of attempted fraud on creditors perhaps. If they hasn't, they definitely should consult with a bankruptcy attorney. Also they might look at suing the "lender" he worked for. Either it was a real fly-by-night, he leased the premises without authorization, or something equilly as questionable. Something seems fishy about a manager leasing it and then sub-leasing it to his employer.

I also wonder if the husband is not telling his wife the full story. He asked her to co-sign a lease and they turned around and sub-leased it to his employer. I'm thinking that when she consults with legal counsel she should make it clear to the attorney that she, but not the husband, is the client.