Answered on Aug 24th, 2017 at 12:11 PM
You are either bankruptcy bound or going to find yourself with a judgment for a bunch ofmoney that gets sucked outof your new business unles you are able to work out something with the creditor. That stated, you have already made some really poor financial decisions in this matter so you REALLY need to finda means to hire a lawyer to defend the lawsuit and negotiate for you otherwise.
All responses are NOT to be considered legal advice nor to be relied upon in any as such nor to establish any form of attorney/client relationship. Opinions expressed are solely informational and not a substitute for proper legal advice provided by a properly retained after thoroughly researching the issues presented.