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What assets or money can be taken from us if a judgment has been made against us to collect unpaid rent for a business we had to close?
It depends on the details. If the business was incorporated and the judgment was against the corporation the creditor can only take business property and assets. If you owned the business as individuals then a judgment creditor can take any of your assets to satisfy the judgment: bank accounts, vehicles, boats, equipment, real property, etc.
What else can I help you with?
If an attorney receives a judgment against you how does he collect if you own no assets?
Garnish your wages.
How can I collect a judgment from a business?
To collect a judgment from a business, you can start by sending a demand letter requesting payment. If the business does not respond, you can file a lawsuit and obtain a judgment from the court. Once you have a judgment, you can enforce it by garnishing the business's bank accounts or assets, or by placing a lien on their property. It may be helpful to consult with a lawyer to navigate the legal process.
How happens if defendant has no assets?
If the defendant has no assets, they may not be able to pay a monetary judgment against them. In such cases, the plaintiff may not be able to collect on the judgment unless the defendant's financial situation changes in the future.
How can I collect a judgement against an LLC?
To collect a judgment against an LLC, you typically need to follow legal procedures such as obtaining a charging order or seeking to pierce the corporate veil. This may involve working with a lawyer and going through the court system to enforce the judgment against the LLC's assets.
How can a business effectively collect a judgement from a debtor?
A business can effectively collect a judgment from a debtor by taking legal steps such as garnishing wages, seizing assets, or placing a lien on property owned by the debtor. It is important to follow the legal process and work with a lawyer to ensure the judgment is enforced properly.
Is a judgment against the person or property?
The judgment is against the person, not the property.
What assets are protected against a judgment in a wrongful death civil suit?
Each state has different laws on what assets can be protected from judgment creditors.
If a small business has a lawsuit or judgment against them can they take your personal assets such your house car and other monthly incomes not associated with the business?
If you operate as a soleproprietor then yes your personal assets can be used to satisfy the judgement. If on the other hand you operate as a corporation or a LLC then your personal assets are protected.
How can I effectively collect a small claims judgment from a business?
To effectively collect a small claims judgment from a business, you can start by sending a demand letter requesting payment. If the business does not respond, you can file a writ of execution with the court to seize the business's assets or bank accounts. You may also consider hiring a collection agency or pursuing wage garnishment. It is important to follow the legal procedures and seek advice from a lawyer if needed.
What happens after a judgment is entered against you in small claims regarding a rental property?
The prevailing party (judgment creditor) may collect on the judgment. You may be summoned to court to tell about your assets, garnishment may be started, or other lawful means of collection may be used, at the judgment creditor's discretion.
If a person has a judgment against them personally can their business account be garnished or just their personal account?
If a person has a judgment against them, both their personal and business accounts can potentially be garnished, depending on the legal structure of the business and local laws. If the business is a sole proprietorship, the personal and business assets are often considered the same, making both accounts vulnerable. However, if the business is a separate legal entity, like an LLC or corporation, only the individual's personal assets would typically be at risk, leaving the business assets protected. It's advisable to consult with a legal professional to understand the specifics in any given situation.
In Florida a summary judgment is against you for a business that could not finish the lease you lost your business and all your money what can the owners get from you now?
You can be ordered into court and they can ask you any question under oath about your assets, if you have no assets or money try to settle for pennies on the dollar, if that doesn't work they can refill every 15 years against you which I doubt they will depending on the amount owed. So anytime in the future if you have the money to pay what you owe they can collect with interest, I'm sorry to say.
