personal garantor

twincities | 15:28 Wed 20th Dec 2006 | Personal Finance

2 Answers

I made the mistake of signing as the personal garantor for a copy machine for a company that I was working with part time to launch a business. I merely lent them my signature to get the paper work processed. I didn't realize what I was signing at the time. Now that the lease payments are behind the collection agency is coming after me for $30,000.00. Is there any protection from this. Can an attorney get my name off the lease as the garantor.

Help I am at a loss

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Ethel

You cannot 'lend' a signature. In your first sentence you said you signed as personal guarantor.

What were you told you were signing? If you were told any different and was not given the opportunity to read the paperwork, then a fraud has been committed.

Seek legal advice as soon as possible.

themas

You are obviously in USA. This is a site based in UK & most answers are from people who may have knowledge of UK law, but not of USA law. Nonetheless, Ethel's advice to see a lawyer is almost certainly the best thing for you to do.

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