0
Yes in Illinois even a single member LLC gives protection to the member / members of the LLC. In the Quad Cities area and Peoria we have been really lucky getting default judgments against the members. If you know what judge will handle the case then you know how to handle the case in order to get the default judgment. If the judge "does not matter what law allows" allows service by regular mail then you are golden. You may need to send certified mail, send it to a old address if possible then it will look like they made a choice not to pick up the mail. Also you can check a box on the mail card saying that the person must sign in person, send this as late in the game as possible. When the mail person attempts to deliver he will place the tag on the door, when the person you are after gets home he will sign the card and leave it on the door. The mail person will come back and take the card but will not deliver because you checked the box that stated that the mail must be signed foe in person. The mail person will attempt several more time but by this time you will have a tracking number history that can be printed and used to show the judge that the person refused to sign for the mail as "he was avoiding" the courts authority to hear the case.
On your court date the soon to be debtor will not show and you will be given a default judgment. Now the new debtor could have avoided the judgment by coming to court and providing the section of law that "Limits Liability" and had the case dismissed. But since he did not show up despite your attempts to get him to court for a fair fight you win by default! The judge doesn't even hear the case he simply grants your demands against the defendant for as much as you asked for "hence" you didn't let him hide behind the silly LLC. Of course only use this method for good! One final thing, be sure to wait at least 30 days to start the garnishment actions or the debtor will have a chance to dismiss the default judgment!
Remember ask around to get the best judge possible!
What else can I help you with?
Can an LLC be a partner in another LLC?
Yes, an LLC can be a partner in another LLC. This is known as a multi-member LLC structure, where one LLC is a member or partner in another LLC.
Can an LLC have only one member?
Yes, an LLC can have only one member.
How can I add a member to an existing LLC?
To add a member to an existing LLC, you typically need to amend the operating agreement and file the necessary paperwork with the state where the LLC is registered. This process may involve obtaining the consent of existing members and updating the LLC's records.
How can a member obtain a loan to their LLC?
A member can obtain a loan for their LLC by applying for a business loan in the name of the LLC, providing necessary documentation such as financial statements and business plans, and demonstrating the ability to repay the loan based on the LLC's financial health and creditworthiness.
How do I add a member to an LLC in Virginia?
To add a member to an LLC in Virginia, you need to amend the operating agreement of the LLC and file the necessary paperwork with the State Corporation Commission. This typically involves submitting a Statement of Amendment form and paying the required fee.
Can a non wage garnishment be placed on a llc?
Yes it can. If the creditor files a wage garnishment to a protected LLC and that LLC fails to respond or respond properly, a court can and will hold the LLC jointly and severally liable for the entire debt owed to the creditor.
Can an LLC be a partner in another LLC?
Yes, an LLC can be a partner in another LLC. This is known as a multi-member LLC structure, where one LLC is a member or partner in another LLC.
Can a LLC invest in its parent LLC?
Yes, a LLC, that is, a LLC that is member of a LLC, could theoretically make a distribution to its parent LLC. Although, where member(s) of the LLC that is a member of the "parent" LLC are also member(s) of the parent LLC violate certain imputed fiduciary duties, the potential arises for unlawful self-dealing to occur.
Do wage earners have to worry about LLC tax returns?
Filing a LLC tax return is required of any LLC operating in the United States. If you are just an wage earner that does not own a business, then you would not have to file a LLC tax return.
Are LLC's exempt from reporting 1099's?
If they give you a W-9 form indicating that the LLC is teated as a corporation for tax purposes then it can be treated as being exempt from 1099-Misc reporting.
Can an LLC have only one member?
Yes, an LLC can have only one member.
Can a member of LLC be a minor?
no
Can a minor be a member of a LLC?
no
Is an llc member liable for llc debt in Colorado?
In Colorado, an LLC member's liability for the LLC's debts is generally limited to the amount of their investment in the LLC, unless they personally guarantee the debt or engage in wrongful or fraudulent acts. Members are not usually personally liable for the LLC's debts in Colorado.
Where can one find information regarding a single member llc?
A single-member LLC is a liability company with only one member. One can find information on a single-member LLC including tax information and forms at the IRS official website.
Can an LLC member also serve as an employee within the company?
Yes, an LLC member can also serve as an employee within the company.
Who signs w-9 when it is an llc?
The Business Owner if single-member llc, Accountant.
