we took over a corp & it’s now desolved are we responsible for debt of a personal guarantee of prior owner

by admin ~ May 10th, 2007 . Filed under: Credit .
personal debt
heather t asked:


we took over a corp & it desolved now, there was a personal guarantee made by prior owner with a paint co are we now responsible to pay that debt

Samara Pasillas
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1 Response to we took over a corp & it’s now desolved are we responsible for debt of a personal guarantee of prior owner

  1. tudorjason (matt)

    When you purchased the company, you purchased their assets and liabilities too. Unless it was stated in the purchase agreement that you wouldn’t have to pay for any debt, you probably are responsible for it. But you should contact an attorney anyway.

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