11Feb What happens when you sign as the guarantor for corporate credit and the business goes under?
Mark H asked:
If you owned a business and you signed for corporate credit as the guarantor and can no longer pay the bills, what happens to your personal credit?
How long does it take for it to reflect on your personal credit? And, if you make some type of payment every month, how does that affect the personal credit and do they still come after you for the lower payments. Who is a very GOOD company to go with that will help us, there are so many out there and so many crooks.
If you owned a business and you signed for corporate credit as the guarantor and can no longer pay the bills, what happens to your personal credit?
How long does it take for it to reflect on your personal credit? And, if you make some type of payment every month, how does that affect the personal credit and do they still come after you for the lower payments. Who is a very GOOD company to go with that will help us, there are so many out there and so many crooks.
Tags: corporate
February 13th, 2009 at 1:35 pm
I would assume the same thing as when you sign as guarantor for personal credit.
February 15th, 2009 at 3:16 pm
YOU are responsible for the debt.