QUESTION
What Am I financially responsible for under an LLC partnership
Asked on May 30th, 2014 on Consumer Law - Florida
More details to this question:
Three years ago I established a small business LLC. My partner and I obtained 4 credit cards to finance the business. I understood the credit would be protected under the LLC, however, my partner made me financially responsible. She has maxed out 3 of the cards with personal charges totally unrelated to the business. The cards are now closed, and we are out of business. However the card companies are coming after me. I need to take her to court, but I don't know where to begin.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
anytime you "finance your business" through credit cards, you are already in a pickle. Assuming you have personal guarantees on the cards, the obligation will be yours to pay. You can try to sue ex-partnr for contribution but that presumes she has the money to pay and you can afford to hire a lawyer to help you do it properly. If its a lot of money, you may simply needton contact a bankruptcy lawyer. If you have further questions, feel free to contact us at 1-800-922-6442 for a FREE consultation.
Answered on Jun 11th, 2014 at 2:35 PM
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