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Updated almost 7 years ago on . Most recent reply

User Stats

193
Posts
43
Votes
Robert D.
  • Investor
  • Bartlett, IL
43
Votes |
193
Posts

LLC and its assets and lawsuit

Robert D.
  • Investor
  • Bartlett, IL
Posted

Lets say I have my little LLC. I separate my personal from llc bank accounts. I keep records, the LLC is alive and does not only live in my desk drawer. I buy properties in the name of the LLC I sell in the name of the LLC, all good. One day I got sued by the city for some grass, garbage accumulation etc for $10k. my LLC was named not me. I refuse to pay lawyers (who 90% of the time represent themselves not their clients) never show up to court so the lawsuit goes default and the judgment is obtained against my LLC. I close my LLC and open another one. Question is : since the LLC is closed and the judgment is pending ..can they go after the assets or attach the judgment to the assets of whoever created the LLC ?

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