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.
Question As an employee of my company -- I was the purchase manager -- I was required by the President and owner of the corporation to sign work agreements/contracts that had "personal guarantee" language written into them. I always signed with my name, followed by a comma and then "PM" to show that I was acting as an employee (Purchase Manager) of the company. Now, the company is in financial trouble and there is one vendor/sub who may try to hold me liable? I was ordered by the owner/President to sign these work agreements. Can I be held financially liable? This is the construction/home building industry. Thank you so much.
Answer Brendon:
Thank you for your inquiry. As an employee of the organization, unless you are an officer of the company you can not be held liable for the expenses incurred by the business entity. The vendor which you mentioned may be applying "pressure" in an attempt to collect on a debt as you have indicated that you are a primary contact. The debt owed is the owners primary responsibility. If you are not a spouse of theirs that resides in a community property state, than the debt does not befall you. The owner should be made accountable for the debt, even if he has appointed others to manage it for him. If your organization is heading for hard times and has encountered (obvious) financial distress, than it may be time to look into cutting some of the expenses, such as the debt your company owes. Vendors as well as banks are very willing to cooperate in workouts and negotiate. If the problem is systemic, and the organization is dealing with multiple types of debt, than I recommend having your leadership contact my organization for assistance. We are an established company that is expert at small business debt restructuring (see my AllExperts profile for more info). For eight years, our program has helped business owners nationwide to reduce their debts and avoid bankruptcy. I welcome a direct line of communication to discuss options to turn things around with the owner/President. They can contact me directly by calling 800-630-9960 x 147. I assure the utmost discretion and am confident we can assist.
