LLC Closed Down - Bankruptcy Question

[LSD4me]

State : Pennsylvania


Hi,

I have a question in regard to filing for bankruptcy and whether that would help our situation. I am currently 1/3 owner of an LLC (3 owners). We have accumulated a large anount of debt. Bills for Telephone, Internet, Rent etc have brought us to a point of requiring bankruptcy assitance.

My question is whether the accounts in question will be absolved by a bankruptcy judgement if those accounts were setup using individual owners' social security number and not that of the company. Example, telephone bill was originally setup as:

PERSONA DBA COMAPNY NAME
PERSONA HAS ALSO SUBMITTED THEIR OWN SSN #

Any help will be appreciated!

Thanks!

 

[Zigner]

Did someone "personally guarantee" payment of bills etc?

 

[LSD4me]

Im not exactly sure what "personally guarentee" means but i would immagine so since the account required somebody's SSN to be attached to the account for it to be opened. Would that in itself "personally guarantee"?

 

[Zigner]

Im not exactly sure what "personally guarentee" means but i would immagine so since the account required somebody's SSN to be attached to the account for it to be opened. Would that in itself "personally guarantee"?

Not necessarily, but it might. Really depends on the contract that was "signed".

 

[LSD4me]

What if there was no actual contract that was SIGNED...what if the account was setup over ther phone and his SSN was given to open the account and nothing was physically signed...

 

[Zigner]

What if there was no actual contract that was SIGNED...what if the account was setup over ther phone and his SSN was given to open the account and nothing was physically signed...

That's why I put my statement in quotes. When the account was set up, you verbally agreed to the contract...and that was recorded, remember?