Business personal guarantee liability, how much can they take?

Baltimore, MD Viewed 158 times. Posted 3 months ago in Business

With a business personal guarantee, I know they can take my home but does that include it's contents?

Answers (2)

Paula Jeanette Mcgill

This attorney is licensed in Maryland and 3 other states. Posted 3 months ago.

The creditor can place a lien on the home. In general, the creditor will place a lien on your bank account and car before they seize home contents. However, if your home has valuable art work or antiques, they may seize the property to satisfy the debt.

Depending on the debt and your assets, you should think about filing for bankruptcy to protect some or all of your assets.

Mark L Rosenberg

This attorney is licensed in Maryland and 1 other state. Posted 3 months ago.

All of your personal assets are subject to a lien for a judgment. You should contact the creditor and attempt to work out a payment schedule on this.

Mark L. Rosenberg

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