Few years back, I had a business with a partner where we incurred some debt. My credit score at that time was around 800 and his below average so I personally guaranteed few loans. Now he has refused to pay for the debt. If there is no guarantee on the American Express account that was obtained on the company's name, yet my name affiliated with the card - am I liable for the account?

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It'd be hard to say anything without going through each of the accounts. However, if you have personally guaranteed the loans, then you're liable to pay off those loans. Even the American Express card was based on your own information, you are liable for the account (doesn't matter for what purpose you have used it).

Did you have any agreement regarding his liabilities and specific obligations such as to pay for debts? Did you have a shareholder operating agreement? Is the business now dissolved?


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