PDA

View Full Version : Accidently signed a personal guarantee!!?? Need Help!



SanDog11
09-24-2013, 06:57 PM
I am getting calls at work from a collection agency saying I am responsible for a debt that my company didn't pay. My former company went bankrupt in January and was an LLC. I however was only a Purchasing Agent of the company and was not an 'Authorized Agent, Officer, Owner or anything. I signed it on behalf of the company and put my Title as well.

I am getting herrassment calls at my new place of business and they have got me scared. They are saying I owe $5k and I am wondering if I have any way to get out of this.

Any help or advise is greatly appreciated.

Thank you in advance!

Fulcrum
09-24-2013, 07:01 PM
Call a lawyer and get a copy of the signed contract from both your former company and the collection agency. A lawyer is the only one who can help you.

Freelancier
09-24-2013, 07:38 PM
There are laws in place. Collection agencies cannot bother you at work, they cannot call you after you tell them to never call you again and only contact you in writing. They must provide in writing the specific signed documentation that indicates you are personally at risk for any debt they are trying to collect. DO NOT PAY them unless they have clear proof you owe the money.

Debt collectors have one goal: to collect the money. They don't get paid if they don't collect. They have no incentive to be fair to you even if you don't owe the debt. But you have the law on your side and can sue them for harassing you if they continue to contact you after you've told them to stop contacting you except in writing.

Oh, and pull a copy of your credit records from the big three. Make sure none of these debts show up on it. If they do, dispute the debts and force the agencies to remove it from your record. You get to do this for free once a year (in some states, you can do it more often, so check with the rules of your state).