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  1. #1
    Join Date
    Jun 2012
    Posts
    1

    Default No Longer an Officer but Credit Was Obtained Using My Name

    My question involves business law in the state of: CA

    I was a minor share holder, officer and the Treasure in a family C-corp. I am no longer the Treasure and an officer, but I obtained a couple of business credit card for the company as an officer of the company.

    What is my obligations and consequences toward this business debt? There are about 20K debt from Discover and Chase business cards, and the company is planning on filing a bankruptcy.

  2. #2
    Join Date
    Jan 2006
    Posts
    20,671

    Default Re: No Longer an Officer but Credit Was Obtained Using My Name

    did you personally guarantee the cards? Did you use the cards for personal benefit?
    I am not an attorney and any advice is not to be construed as legal advice. You might even want to ignore my advice. Actually, there are plenty of real attorneys that you might want to ignore as well.

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