Business line of credit, can not repay

[Archer_D]

I had a business with a partnership with one other guy. Registered as a corporation. We started business in 2004. Took a buisness loan from a bank in 2005 for business improvement. We never made any money on the business. In 2007, we eneded up closing the business. Bank loan was still outstanding. We paid minimum payments on the loan for another year and I couldn't pay the minimum payment anymore. Bank never contacted me so far. Well, the address on the account is not my personal address either.
Now the question is, can the bank come after me to recover the loan amount (about $25,000)? Am I liable for this loan personally (including my partner at that time)?

 

[Antigone]

I had a business with a partnership with one other guy. Registered as a corporation. We started business in 2004. Took a buisness loan from a bank in 2005 for business improvement. We never made any money on the business. In 2007, we eneded up closing the business. Bank loan was still outstanding. We paid minimum payments on the loan for another year and I couldn't pay the minimum payment anymore. Bank never contacted me so far. Well, the address on the account is not my personal address either.
Now the question is, can the bank come after me to recover the loan amount (about $25,000)? Am I liable for this loan personally (including my partner at that time)?

If you signed a personal guarantee (and it is very common practice to have signed as part of the loan agreement package) they certainly can come after you personally.