Legal Question in Credit and Debt Law in California

i had a credit card in my llc name. i was personal guarantor. i had the balance up to 20k and lost 1/3 of my income as business was not making enough money to take draws. my llc owns 20% of a partnership that i have not finished paying for and my equity balance is minus 16k. the card company Advanta sued me out of state and won. they sold this to a collections company or attorney in california. they filed in my county and i could not make court date so they won in default. they are now hiring an attorney collections firm in San Francisco that has called me to collect and they threatened sending a sheriff to take our business income. is there a way i or my partners can stop this? in our buy sell it states any such issues will be cause of forfiture of my percentage.

Asked on 10/23/11, 5:34 pm

0 users found helpful

0 attorneys agreed

You should have hired a lawyer on this a long time ago. You need one now, not internet answers.

Answered on 10/24/11, 1:30 pm

Keywords

Match Any Match All

Country

State

Area of Law