Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - How iron clad are personal guarantees ? - I am contempating filing bankruptcy bc I had to close my business and I have two debts that have personal guarantees attatched to them. Personally I am absolutely broke and starting over. I already lost my home to foreclosure and sold all that I had in the moving sale. I have no assets but the one thing I have going for me is I just started a decent paying job. My worries are that those business debts are going to garnish my wages. I have about 8k in those debts. I have personal debts, I am not sure about the foreclosure thing and how that is going to come back on me financially or the equity loan that was secured by the home. I am going to pay my personal debt but I am giving thought to bankruptcy to protect myself from the business debts with personal guartees. The business was an LLC so I know there are inate protection there but like I said the personal guarantee is what they are threatening me with at this time. I was told today that one company is starting a pre-trial asset investigation. Any advice is appreciated. -
