I have a business and have commercial cash advance loans and I am the personal guarantor of the loan even it is under my business loan. Now, the commercial company is trying to go after the loan and I just wonder if they can able to go after my main house and put a lien on it. Please let me know if I put my main house in a corporation will shield my main house or what other option I should do to protect my house since a have a about $140k equity. Please advice
Well if you already have loans you may have already subjected your house to a lien. Personal guarantees do as they sound, you are personally guaranteeing something which puts your personal assets at risk.
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