My husband had a number of commercial loans that he needed to refinance. The bank he used was merging with another bank, and they suggested that he wait until the merger was complete to refinance. They told him to suspend payments until that happened. After the merger they told him that they would not refinance unless he provided additional security for the loans. They also wanted him to sign a release of any claims against them. He told them "no", and they called in his loans, so he filed Chapter 11 bankruptcy.
Now the bank wants to go after our personal assets based upon his personal guarantees of the loans. He's being sued. He needs a bond for his business, and if he declares personal bankruptcy he's going to either be unable to get bonded or the cost of his bond will become unaffordable. Can the bank really sue him?

