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    simplyscrewed's Avatar
    simplyscrewed Posts: 1, Reputation: 1
    New Member
     
    #1

    May 16, 2008, 10:57 AM
    Personal guarantee for Line of Credit
    I signed a personal guarantee loan with a local bank for $100000.00 a few years ago. Then I left the partnership 1 1/2 years later, and the remaining two partners stayed and continued the business. Then they filed bankruptcy the following year, and now last week I was served with a summons. I only have 21 days to file a response with the court, and I can't afford an attorney. What form do I need to file with the court for my response?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    May 16, 2008, 11:00 AM
    For that amount of money I'd get an attorney. You can file a notice of Intent to Defend. I doubt if it needs to be on a specific form. But I don't see where you have any defense. You signed a personal guarantee. Therefore you owe the money.

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