Can I renegotiate my business CC debt if I am personal guarantor?

The carpet cleaning company is insulated from the other company's debt by the corporate shields. Your personal liability as a guarantor does not give the CC company the right to go after your carpet cleaning business. Go ahead and renegotiate. It may impact your credit, but the good business is safe.

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Mr. Fink is correct. Your barganing power to negotiate down the debt of your film and video company will depend on your own financial situation: if you (the guarantor) do not have much in assets, the lenders will be more likely to negotiate with you. As a part of the negotiation, you may ask that they will not make any negative reporting on your credit, and if they agree, this will also protect your credit. Be sure to consult your own attorney to protect your legal rights.