CCs gift Posted November 23, 2010 Report Share Posted November 23, 2010 (edited) I am being sued by chase bank .. a business line of credit which when it was not paid became a loan .. issue is I dont know if I signed the promissory note or guarantor page .. I may have not knowingly signed since neither had any info except generic word promissory note at top ..there was no bank info , no date , no terms , no facts what so ever .. I cant say if I even signed it but if I did.. I didn't know it was a loan or line OF credit .. it wasn't done at the bank .. I never went to bank .. never spoke to bank .. had NO dealing whatsoever with bank regarding this loan ..QUESTION: in New York does a business line of credit/loan guarantor page ( THE SIGNATURE PAGE) have to be witnessed or notarized when Not signed at bank ?SAME QUESTION FOR PROMISSORY NOTE ?How can I defend against a loan my partner did behind my back that I didnt even know about till years later when it needed to be paid?please help Edited November 23, 2010 by CCs gift misspelling Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted November 23, 2010 Report Share Posted November 23, 2010 QUESTION: in New York does a business line of credit/loan guarantor page ( THE SIGNATURE PAGE) have to be witnessed or notarized when Not signed at bank ?Nope.However, if they can't prove that you signed a commercial guaranty they are not going to be able to come after you personally for the debt. (Or they can come after you, but when you assert your defenses they would not be successful).Is the business still operating? If not who cares let the business be sued. If they are coming after you personally request the commercial guaranty in discovery and see what they have. Link to comment Share on other sites More sharing options...
CCs gift Posted November 23, 2010 Author Report Share Posted November 23, 2010 (edited) When I got sick my sister partner changed passwords..keys to doors and basically to make long story short stole the entire business .. she got a new partner and they are still operating the business .. I have nothing to do with it except on paper I own 50 percent of shares in the S corp .. I dont care if they take the whole business since I was locked out of it .. This same sister partner is the one who may have tricked me into signing when I was working at shop .. I dont recall ever signing this specific paper .. but I have a copy from the bank ..the paper does not mention that it is a loan or line of credit.. it has No information on the page at all except the words promissory note at top ..looks very generic .... it was common in our business to sign these for some of the small companies we dealt with .. but there amts would never have exceeded a few thousand ..I have told the bank since I found out that I did not sign for this loan .. or give a personal guarantee ..I honestly dont know if I did or not sign .. but I know I would never have knowingly agreed to this ..my signature may have been forged by my sister ( not the first time) or she may have simply given me a piece of paper almost blank to sign and claimed it was for a yarn company ..seems it maybe hard for me to defend .. How do I prove I knew nothing ?Is there a legal statue or defense I can use ?How did the bank accept this paper from her with no information and no proof I signed for a $75,000 loan ? Dont you have to have a right to cancel you must sign ?or sign a box that you understand ?there must be something more I should have signed ?this seems crazy to me PS>> I DID sign a line of credit for my house(not business) from the same bank ..same branch less then a month prior to this and I had to sign 7 different pages and initial some ..plus it was notarized by the bank and I had to do it at the bank .. I have no problem with this real loan and pay it monthly .. theses two look like day and night .. Edited November 23, 2010 by CCs gift spelling error Link to comment Share on other sites More sharing options...
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