closedbusiness
New Member
Not sure if this is the correct forum. However, I really need any information I can get. My husband was in business (via a corp.) with 3 partners. All four signed a personal guarantee. The business has since closed due to lack of funds and large amounts of debt including payroll taxes not paid by the CFO. It has very little assets which are currently in the process of being sold. All four owners are getting sued by the individual who sold them the business due to the personal guarantees to about the tune of $556,000. What will happen? Can they get money from us when we can barely pay our personal bills. Our family does not make a lot of money via my husband's business and I stay at home with our new baby. On top of all that my husbands new Corp. used to be a part (DBA) of the old business but he left and started over with this new one (corp.) and now I'm scared this business is not safe. Please help if possible with informaiton and direction.
