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Short answer, no. Many states do allow a charging order, but the entire premise of the llc is to protect business assets and allow the business to continue to operate. A charging order simply garnishes any distributions from the llc, but the company's bank account belongs to the company, which is its own entity.
That said, there are circumstances where you can "pierce the veil" of corporate secrecy if you have a strong enough case to convince a judge that there is either fraud or that humanity will be irreversibly wronged (the Oklahoma principle) if you can't open up the llc, but it's a tough sell in most states including mine because the entire llc concept is to allow people to separate their business and personal lives.
What else can I help you with?
If you own a ccorp that owns a llc and your personal account is linked to the llc account since you will pay taxes at year end anyway can you move funds from the llc to your personal account legally?
The c corp needs to issue a dividend or pay you a salary. It's important not to co-mingle funds. (you might want to talk to your accountant about this)
Can collection agencies garnish or seize your checking account?
no
Can a lawyer garnish a checking account?
With a court order, yes, they can.
If you are a beneficary can a garnishmnet happen to the acct?
Yes, a garnishment can occur on an account if you are a beneficiary, depending on the circumstances. If the funds in the account can be linked to your debts or legal obligations, creditors may have the right to garnish those funds. However, certain protections may apply to inherited assets, and the specific laws can vary by jurisdiction. It's advisable to consult a legal professional for guidance tailored to your situation.
Does a bank needs an operating agreement on all their llc accounts?
You need an LLC to open a business account that is operated as an LLC but you do not need the LLC Operating Agreement (that is for you and the members) but once you set up the LLC you can go to the bank. :) go to http://ellcoperatingagreement.com to learn more!
If you own a ccorp that owns a llc and your personal account is linked to the llc account since you will pay taxes at year end anyway can you move funds from the llc to your personal account legally?
The c corp needs to issue a dividend or pay you a salary. It's important not to co-mingle funds. (you might want to talk to your accountant about this)
Can I deposit a check made out to my LLC into my personal account?
No, you cannot deposit a check made out to your LLC into your personal account. You should open a separate business account for your LLC to deposit business-related checks. Mixing personal and business funds can lead to legal and financial complications.
Can a creditor garnishment my bank account when all the money in it is Federal annuity?
yes, i creditor can garnish a bank account to $0 regardless of where the funds in the account came from
Can a federal credit union garnish disability?
Banks do not place liens or garnish your paychecks (your employer would have to do that). However, if a garnishment is received by your credit union, they have to freeze any liquid funds in your account at the time the garnishment is received and send the funds to the court (by law). This is regardless of the source of the funds.
If I am a signer on a checking account can they garnish the checking account?
Yes, if you are a signer on a checking account, creditors may be able to garnish funds in that account to satisfy a debt, depending on state laws and the nature of the debt. However, if you are not the primary account holder and the account belongs to someone else, garnishment would typically target the primary account holder's funds. It's essential to consult with a legal professional to understand your specific situation and rights.
How do you garnish a PayPal account?
To "garnish" a PayPal account typically refers to a legal process where funds are seized to satisfy a debt. This usually involves a court order requiring PayPal to freeze or redirect funds from the debtor's account to the creditor. If you are seeking to garnish someone’s PayPal account, you would need to follow legal procedures in your jurisdiction, including obtaining a judgment and filing the necessary paperwork with the court. It's advisable to consult with a legal professional for specific guidance on this process.
Can creditors garnish joint savings accounts if one party on the account is not named in lawsuit?
In most states, creditors can garnish any account joint or not as long as the person they are trying to collect from is on that account. Sorry. The non debtor account holder should supply proof of the amount of funds held in the account that belongs to them. The court will then decide which funds are subject to levy. An exception to the levy of joint accounts is if the account is held by a married couple in a state that recognizes Tenancy By The Entirety of personal property, in such a case, the account cannot be levied when only one spouse is the debtor.
In the state of Ohio can a creditor garnish your bank account if you are late with a payment?
Yes, in Ohio, a creditor can garnish your bank account if you are late with a payment, but they must first obtain a court judgment against you. Once they have the judgment, they can file a garnishment action to withdraw funds directly from your bank account. However, certain exemptions may apply, protecting a portion of your funds, particularly those from sources like Social Security or disability payments.
Can creditor garnish bank account with minor as beneficiary?
Yes. They cannot garnish the minor's account, however.
Why would a creditor garnish a bank where I don't have an account?
This begs curiosity as to why you would be aware that the creditor attempted to garnish an account where you have no accounts. Prior to serving garnishment of an account, the creditor will need to know that you do have an account or accounts at the bank. This is typically verified by the legal department or a skip tracer. If no account exists, or if there are no funds available to attach, the creditor will be notified, but there is no reason for a bank to notify you if no account exists. If you have no account at a bank, for all intents, you do not exist to the bank.
Can the bankruptcy garnish a home owners insurance check?
Yeah, they can garnish any remaining funds involving the home.
Can collection agencies tap a personal bank account?
Yes! Creditors can garnish a personal checking account. As long as the creditor has the checking account info they can garnish a checking account.
