Bank Guaranty

[lgilder]

I have a couple of loans with a bank that are over due. I am unable to pay them and the only collateral, I agreed to sell and give the proceeds to the bank. I sold the collateral and immediately gave the bank the proceeds. These loans are in my corporation name and tax id number. My mother guarateed one of these loans. I don't have the money to pay the bank in full the amount which is about $130k. What can I do, what can they do to me if i don't pay and what will they try to do to my mother?