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Dissolving your LLC does not erase the personal guarantee you signed on the lease, the SBA loan, or the equipment financing. This guide explains how a Chapter 7 bankruptcy in New Jersey discharges guaranteed business debt, why the entity itself never receives a discharge, how the means test and the federal exemption election work for New Jersey filers, what Section 523 never wipes out, and the insider preference and fraudulent transfer traps that can cost an owner the dischar

A personal guarantee in New Jersey can put your home, savings, and personal assets on the line for your company's debts. Learn how personal guarantees work in commercial leases, business and credit contracts, and asset purchase deals, what the 2025 Extech decision means for corporate signers, and how to limit your exposure before you sign. From the Law Offices of Peter J. Lamont, serving Bergen County and all of New Jersey.