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All Forum Posts by: Douglas Frankow

Douglas Frankow has started 1 posts and replied 2 times.

Goals, Business Plans & Entities

Post: How does a personal foreclosure effect an LLC that you own?

Douglas FrankowPosted
  • Pompano Beach, FL
  • Posts 2
  • Votes 0

The LLC is owned by two people that are married. One of the owners also has a mortgage for a home. That home mortgage is now in default. The LLC is doing well and holding it's own showing great growth. The biggest problem is that now after five years of struggle, the lease equipment is now being paid off through the LLC. Leaving it without the lease protection. Can this equipment be attached to by the lender of the home mortgage? Thanks everyone for your input.

0 Votes
Goals, Business Plans & Entities

Post: How does a personal foreclosure effect an LLC that you own?

Douglas FrankowPosted
  • Pompano Beach, FL
  • Posts 2
  • Votes 0

My question is, If your in business and own an LLC that is up and running and been holding it's own for about six years, but now find that a loan taken out personally but is now about to fall in default. How does it effect your LLC? Could your company be drawn into call on a foreclosure?

0 Votes