Legal Question in Credit and Debt Law in Ohio

Personal guarantor

If a company files bankruptcy but a member has signed a person guaranty . can they be sued for money owed seperately

Asked on 2/18/09, 3:05 pm

1 Answer from Attorneys

David Weilbacher, Esq. Attorney at Law
0 users found helpful
0 attorneys agreed

Re: Personal guarantor

Yes. The reason to secure a personal guarantee is to ensure against a company's inability to pay. The bankruptcy of the company may affect the guarantor's ability to recover from the company, but the bankruptcy will not affect a creditor's ability to pursue the claim against the guarantor.

Read more
Answered on 2/18/09, 3:46 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Ohio

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Glen AshmanAshman Law OfficeAtlanta, GA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now