Benjamin Franklin
New member
I own a business in Texas and I can no longer afford to make the monthly loan payments. The loan was issued by a local bank and its a SBA loan. I am one of four people who is a "guarantor". What does this all mean? Can the bank come after my personal assets? What assets, if any? Who do they go after first? Would it help if I file for personal/business bankruptcy? Please I need some answers and I will of course consult a legal professional, but I wanted the Yahoo Answer's community feedback as well. This is a serious matter, so please make sure your answers are serious as well. Thanks in advance for all answers.