Business Credit Card Debt
we have an S corporation and lots of credit card debt. Due to a family disagreement, the credit cards aren't being paid and the creditors are calling! Can these credit card companies take personal items such as a retirement fund and force us to put a lien on the house? or can they only touch business assets?
Asked on 3/11/07, 8:27 pm
1 Answer from Attorneys
John Jackson
Law Office of John A. Jackson, P.C.
Re: Business Credit Card Debt
It depends on the agreement you signed with them. Generally, credit card companies want a personal guarantee that you will pay the credit cards. For example, I am personally liable for all of the debt of my law office. Meaning that my law office creditors can come after me personally.
Answered on 3/12/07, 1:21 am
