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Unsecured Business Credit card debits

Date: Tue, 10/21/2008 - 12:17

Submitted by anonymous
on Tue, 10/21/2008 - 12:17

Posts: 202330 Credits: [Donate]

Total Replies: 1


I have two unsecured loans obtained in the name of the business but I was the signor of both loans. One with BoA, the other with Cap1. Both loans amount to about $95k. I have been making payments from my personal account since the funds were used personally and my partner is not aware of what I did. Now, I can no longer afford to make payments on these loans. How the business would be affected if I stop making the payments? and what the chances of getting settlement on these debts? Thanks