I was a shareholder and personal guarantor on debt held in a private corporation. After leaving the company the management-partners took the company insolvent ran up debt that I was a co-guarantor on and defaulted. Now I have 2 judgments for over $200K against me. I'm assuming BK will eliminate these?
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Last edited by Ginq; 02-08-2010, 03:09 PM. -
You've not said anything that makes me think it wouldn't! On Schedule F I'd "x" such debts as "codebtor" and "contingent" and also list them on Schedule H.
I was expecting the bank to yank the business line of credit I was a co-signer on after I filed bankruptcy, but as yet they've not. -
I should add, in the Collections section of the forum, you'll find plenty about judgments.Comment
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On re-reading this I was too casual about glossing over the judgment: I should (yet again) add -- judgment liens against actual property you have probably still exist after your discharge, especially if the lien attached before you filed. I don't know what the legimitate bases are for moving to avoid such liens. Maybe somebody else can say? Stuff you buy after filing would, I'd suspect, be safe from liens caused by judgments for debt that was discharged, but I'll be interested to see what others say about that.Comment
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