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Do I personally have to pay back on a contract I signed for personally and signed for on behalf of my business after a chap 13
Anonymous4 views3 answers
Do I personally have to pay back on a contract I signed for personally and signed for on behalf of my business after I filed chap 13 ? I had an agreement that I personally guaranteed for my company an personsally guaranteed on behalf of myself......I had a 20% partner I agreed I owed money too in erie county ny...I did include him in my chap 13 but now he is threatening all kinds of stuff I have only vacuum cleaners etc as assets... An my clients I have left i service under a new corporation so he wouldn't bother my customers. I simply just cannot afford to pay anymore. He is emailing me and texting me bothering me saying he wants payment and that he is going to go to the DA's office and complain did I use bank account during our partnershi for personal use such as shopping for groceries
David E. VendittiCommercial Real Estate AttorneyWhite Plains, NY ·
If you had a Chapter 13 approved, which is the individual version of a corporate Ch 11, and you had a repayment plan approved then, yes, you will be on the hook unless the debt was discharged, which would typically have been in a Ch 7. Can't answer the DA portion. How long ago was the Ch 13. Also, how long ago was the guarantee? There are certain statutes of limitations which I do not know if they are applicable here. Also, you may want to contact your Bankruptcy atty and see if it makes sense to convert to Ch 7, if still available, or how long you might have to wait to do so.
If you included the debt in your Chapter 13 case then your former partner is violating the law. Speak with your attorney about putting an end to this abuse.
