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View Full Version : Can I loose my business over a civil judgement


Bark0111
Feb 6, 2009, 03:20 PM
I own my own business and need to know if I can lose it or my income if a large civil judgement is place against me.

George_1950
Feb 6, 2009, 09:43 PM
Welcome to AMHD. Yes you can lose your business to a personal judgement, which is one reason to incorporate; you are insulated from business debt, and your business is insulated from personal debt. Check this: Why Incorporate? (http://www.powerhomebiz.com/vol128/incorporate.htm)

theresa75495
Feb 9, 2009, 02:25 PM
If a person was award money judgement and I was awarded the property. And I stop paying because of hassement can they come back and try to take the property back or get my banking account or home? I live in the state of tx and I am very confused? Can some one help me...

excon
Feb 9, 2009, 02:44 PM
Hello t:

You should have asked your question on a new thread. It causes confusion. Maybe somebody will come along and move it.

If somebody has a judgment against you and you don't pay, they might be able to get the property back, you could lose your bank account, and they could place a lien on your home.

excon