Personal guarantee biz loan

[jimbo367]

Getting ready to file I thought I had a PG on a 50K loan because the bank seized a few bucks out of my account saying they had a right of setoff.

I asked them to provide proof of the docs, they said it takes 4 days, nothing.

Called again said had trouble finding any, give them another chance to research it, nothing.

This is going on now 5 weeks speaking to managers supervisors etc.

I thought I signed something, but I don't see anything in my papers either.

They haven't been paid in over a year, not one notice.

It was a SBA Chase bank loan. A few days ago received a notice that SBA paid off the note. No mention of PG.


Any ideas

[helpmeout]

I would move your bank account to a bank that you don't owe money to avoid the right to set off.

[newbie2]

Getting ready to file I thought I had a PG on a 50K loan because the bank seized a few bucks out of my account saying they had a right of setoff.

I asked them to provide proof of the docs, they said it takes 4 days, nothing.

Called again said had trouble finding any, give them another chance to research it, nothing.

This is going on now 5 weeks speaking to managers supervisors etc.

I thought I signed something, but I don't see anything in my papers either.

They haven't been paid in over a year, not one notice.

It was a SBA Chase bank loan. A few days ago received a notice that SBA paid off the note. No mention of PG.


Any ideas

I don't know how much a "few dollars" is..but if it was anything over a small claims filing fee, I would do that. File, and make them prove the setoff.

[HHM]

If it was an SBA loan, you can bet it was personally guaranteed. It sounds like the bank has wrote it off, but that doesn't mean you don't owe it; it goes to the SBA and whatever servicer they wish to use to collect it.