After two months of exhaustive research, I have gained much knowledge, but can't put it all together. My situation is so complex, but from what I have read after stumbling on this website today, I am hopeful that I have finally found what I have been looking for. People helping People. First, does anyone have any knowledge on Unsecured Small Business Loans with Personal Guarantees. In September, I learned that my husband had obtained 2 unsecured credit lines, one from Wachovia and one from Sovereign Bank, however, contained in the notes was a personal guarantee which he signed. Needless to say, one took all my money, returned all my checks and not only ruined my credit but forced me into foreclosure. The other bank cc's me on 2 orders (for the first time) that they were removing the locks and doors to my home and levying on personal property, and one week later that they were selling all five of my properties. They even took my daughters money that was a minor acct. As a 26 year banking executive I know that they made many mistakes, but hard to fight large corporations. I have filed all the regulatory complaints, but you know how that goes. They literally left me with no money to eat. I am in process of transferring my IRA's and will be forced to take penalties as I need the money. Mortgage company put foreclosure on hold as I showed them proof of my payments and what Wachovia was doing. Only Sovereign Bank has placed a judgment and levy, of which I was unaware, neither was my husband. The loans were automatically approved using MY credit score as neither the business nor my husband qualified to repay. Basically they allowed my husband to guarantee all marital assets (of which he never contributed) and never disclosed any risks , etc, etc. I need to get the judgment vacated to free up my property so I can sell a few to get money. That is my first step. I have already filed a complaint with the FTC on attorney. Can anyone help??
Hi Joni, Sometimes it's best for us, especially when a situation gets so brutally complex, to just recommend you seek legal council. That's where you are. Your issue is simply beyond the scope of CN. GL : )
Well ... Go get ya an atty. and we'll help you isolate pertinent issues, and questions to ask him/her. He might be able to get everything stayed till you get it straightened out. But ... you don't need to do it alone. You have people to talk to now. : )
