Am I personally liable for LLC credit card debt?

I opened a credit card account in the name of a multi-member LLC. This was done over the phone and I signed no agreements or other indication that I would be personally liable.I was an authorized user of the card. All purchases were business retlated. When the company ceased operations, the balance appeared on my personal credit report. The card company will not remove it, citing terms of the Card Holder Agreement (that I never saw or signed).Can the credit card company hold me liable?

Asked on June 6, 2009 under Business Law, Virginia


J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am a lawyer in CT and practice in this area.  I would need to see the credit card application and agreement that was signed.  If the credit card agreement is truly signed on behalf of an LLC, not you individually and there is no language or place that you signed indicating that you personally guaranteed the debt for the LLC, then there is no way for the card company to hold you personally liable as an LLC has separate legal capacty.  I would see a lawyer to help you examine the credit card application/contract.

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