How do you sue a co debtor who hasn't filed bankruptcy? 7 Answers as of August 09, 2017

I have a promissory note that is signed by an individual and his company. The company is in chapter 11 but the individual is not. Am I able to sue him? He AND his company has defaulted.

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Ronald K. Nims LLC | Ronald K. Nims
You can file suit against a co-debtor or guarantor of a debtor in Chapter 11. There is no stay against collection for a co-debtor in Chapter 11.
Answer Applies to: Ohio
Replied: 8/9/2017
Stephens Gourley & Bywater | David A. Stephens
Generally yes, but there are some exceptions.
Answer Applies to: Nevada
Replied: 8/5/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
Are you a not familiar with the provisions of the CO-DEBTOR STAY?
Answer Applies to: Nevada
Replied: 8/4/2017
Patrick W. Currin, Attorney at Law | Patrick Currin
If he gave you a personal guaranty, you may pursue the individual. If the business is a separate entity and you don't have such a guaranty then you are limited to the business.
Answer Applies to: California
Replied: 8/4/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You can only go after the individual.
Answer Applies to: California
Replied: 8/4/2017
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    Generally, you are free to sue the individual. However, check all the filings in the bankruptcy case: it sometimes happens that a business gets an order extending the automatic stay to Company officers.
    Answer Applies to: Wisconsin
    Replied: 8/4/2017
    Bunch & Brock, Attorneys-at-Law
    Bunch & Brock, Attorneys-at-Law | W. Thomas Bunch II
    Great question! The co-debtor stay only applies in a Chapter 13 to the extent that the debtor will actually pay the debt. In a Chapter 11, there is no co-debtor stay, unless the Court enjoins the lawsuit to protect the Debtor-in-Possession. You should run this by your attorney because this is a complex area of bankruptcy.
    Answer Applies to: Kentucky
    Replied: 8/4/2017
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