AboutChristine Janklow Expertise As President of SettleSource,Inc. a business debt settlement firm, I invite you to inquire about all aspects of business debt solutions to best determine which may be most appropriate. If you have questions such as: What is debt settlement and how process provide debt relief to my business? What options are available to deal with my business debts? Is it possible for a business owner to negotiate their own settlements? Why is debt settlement preferable to filing a bankruptcy or debt consolidation? Why are creditors willing to provide settlements to a business? How will settling debts affect credit scores? or How to rebuild a business after debt is eliminated. Please ask it now! For more information regarding how debt settlement can help your business, please visit www.SettleSource.com and place your inquiry. Mention All Experts to have a confidential no cost consultation with Christine. If this is your business situation time may play a very important factor in getting matters resolved proactively before they have negative affects on the business.
Experience My expertise is specific to providing business solutions that will have profound positive impacts on the financial health of businesses. I have 25 years experience as an entrepreneur and have developed national sales programs; strategic alliances; product development; marketing programs; business and turnaround plans and debt settlement programs all providing methods to improve the financial outlook for large and small businesses.
Organizations Turnaround Management Association; Los Angeles area
Publications Los Angeles Daily News; Today Magazine Monthly series of business articles entitled "Brand News."
Education/Credentials Bachelor of Business Administration; Associate of Arts Merchandising
Past/Present Clients American Airlines, American Express, Safeway Inc., New York Life, consumer products manufacturers; retailers and service providers.
We have signed a lease for a retail location in mall which ends July, 2008. The lease is under the name of LLC (no personal guarantee). Business has been really bad and we are thinking about terminating the lease. We were informed by mall management that if we terminate the lease now, the remaining of the lease amount (about $20,000) will be subject for collection for both the LLC and myself personally. My question is that since the lease was signed only under the name of LLC w/o personal guarantee, does the mall management has the right to file collection against me personally? What are your recommendations for our situation?
Any feedbacks are appreciated.
Regards,
Ed
Answer Ed:
Thank you for your inquiry. Without the benefit of examining your lease agreement, it is difficult to confirm whether or not you personally guaranteed this. Generally, a landlord can not collect personal assets without this assurance. That does not mean they won't try, but may not have the grounds to actually collect based on their assumption that they have the right to get money from you personally. I highly recommend you have your lease looked at by an attorney who can perhaps give you some recourse in dealing with this civilly. If you found this answer helpful, please take a moment to rate it so others may benefit as well.
Good luck.
Christine Janklow
