Debt Settlement - Corporate debt, personally guaranteed? More difficult to collect? - Canada

a good place to talk about links

RE: Corporate debt, personally guaranteed? More difficult to collect?

Postby DanielBl » Mon May 07, 2012 06:22:08 PM

I would try to get overtime driving the school bus and give the extra pay to my roomate to fufill the personal guarantee.
DanielBl
Member
Posts: 647
Joined: Sun Aug 08, 2010 06:13:58 PM
Province: ON


RE: Corporate debt, personally guaranteed? More difficult to collect?

Postby Shabaaz » Mon May 07, 2012 06:09:38 PM

So basically the Inc business means nada? Do they have to try to go over the company first then the person?
Shabaaz
Member
Posts: 6
Joined: Thu May 03, 2012 05:33:40 PM
Province: ON


RE: Corporate debt, personally guaranteed? More difficult to collect?

Postby DanielBl » Mon May 07, 2012 05:56:02 PM

Monty, Monty, Monty.......You have a roomate who has an incorporated business? Help!!!!!!!!!.
DanielBl
Member
Posts: 647
Joined: Sun Aug 08, 2010 06:13:58 PM
Province: ON


Corporate debt, personally guaranteed? More difficult to collect?

Postby Shabaaz » Mon May 07, 2012 04:43:52 PM

My room mate, has an incorporated business that has fallen on hard times.
The RBC Visa (business) was personally guaranteed. The payments have not been made for the past few months.
Does the Inc. business help in anyway if RBC tries to sue? Or does the personal guarantee basically mean there is no way to use the Inc. business to protect my room mates assets?
Shabaaz
Member
Posts: 6
Joined: Thu May 03, 2012 05:33:40 PM
Province: ON


,

Return to Debt Settlement - Discussion Area