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Difference Between a Business and Personal Loan

tksnota · 2024-01-07 10:52:14

Hi I’m in the process of defaulting my loans but I had one loan that I’m confused This fund institution is marketing itself to provide loan to be used for company not personal. So I took out this loan to be used for a company’s capex but I want someone to tell me what kind of loan it is. The company is Enterprise Loan Fund…

Comments

retiredbanker1 Posts: 851 Forumite

9 January 2024 at 2:33PM

Sorry but you are making no sense - your posts are getting more confusing.

Assuming (????) that you have not signed a guarantee and assuming (???) it is a loan in your name + others then the lender can chase you for the whole amount plus interest and costs just as it can chase all other parties to the loan.
You cannot just pay 'your share' and hope it goes away - it won't.

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