Jump to content

Can judgement be placed on business acct if debt is personal


Recommended Posts

if there is a judgment against me and I have my own corporation can they freeze money that is in my corporations account or can they only freeze the accounts that are under my personal name if the debt was incurred under my name? I live in New york city and any help will be greatly appreciated.

Link to comment
Share on other sites

I havent setup the company yet but just gave this thought just recently as a creditor put a judgement on my personal bank account. I wanna try to keep both of these accounts as seperate as possible but the business will be mines. I just fear having a creditor put a judgement on both my personal and business accounts in the future.

Link to comment
Share on other sites

I would highly recommend you set your company up as an LLC then. Do some research on it, it's much cheaper than incorporating. You may want to elect to be taxed as a corporation with the IRS.

Here's a good link for you:

http://www.nolo.com/article.cfm/objectID/D7043E4E-91CB-4B29-B8DC0DDA10AD4B3B/111/182/245/ART/

Nolo has a lot of good information on this subject, read around that site, you'll learn a lot.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.