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Business Bankruptcy with Personal Guarantee

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A

annegen

Junior Member
What is the name of your state (only U.S. law)? PA

If I have a business in an LLC, but have a personal guarantee on an SBA loan and on an equipment lease, what happens if i declare bankruptcy?

I have no personal assets. Can they garnish future wages? Does the loan or lease obligation appear on my personal credit?

Thanks!
 


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