HI... I have an s corp with a judgement against me. Is there any way they can go after my bank accounts?

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Originally Posted by jhk002

HI... I have an s corp with a judgement against me. Is there any way they can go after my bank accounts?

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The judgment is against you personally (not the corporation)?
And you're worried about your (personal) bank accounts? What would this have to do with your corporation?

Or do you mean the corporate bank accounts?
If that's what you're asking, this has been asked several times before. In theory, sure. But it's unclear in most court rules of procedure how they would go about it.

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Originally Posted by AK lawyer

The jugment is against you personally (not the corporation)?
And you're worried about your (personal) bank accounts? What would this have to do with your corporation?

Or do you mean the corporate bank accounts?
If that's what you're asking, this has been asked several times before. In theory, sure. But it's unclear in most court rules of procedure how they would go about it.

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The judgment is against the corporation. I was wondering if and how they can go after the corporate bank accounts? The corporation has no assets or property... just a few $ in the bank that I personally put in there to make corporate credit card payments. Do I need to take the money out?

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Originally Posted by jhk002

... I was wondering if and how they can go after the corporate bank accounts? ...

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Simple.
Get a writ of execution.
Serve the writ on the bank.
Bank will respond, saying "Yes, we have $___ on deposit belonging to ___, Inc. Here it is."

If you take the money out and put it on your pocket or something, they have a strong argument that you are mixing your personal finances with those of the corporation. They could in theory try to "pierce the corporate veil", and hold you personally liable. I don't advise you to do that.

Thanks for the advice... one more question for you.

If I form another corporation... under a different name.. and move the few $$ from the first corporation into the new one... can they go after the money in the newly formed corp?

That will also work against you. It shows you are trying to hide money from a legal creditor.

How will that work against me? One company has nothing to do with the other. If the judgment is against company "a" why would they be able to go after company "b"? What would be the connection between the two?

Because YOU are the connection. If they follow the paper trail they can see that you are hiding the money. The fact is that you lost a judgment so you owe the money. Pay up.

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Originally Posted by jhk002

thanks for the advice... one more question for you.

If I form another corporation... under a different name.. and move the few $$ from the first corporation into the new one... can they go after the money in the newly formed corp?

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If Corp. A pays money to Corp B (or you, me, or anyone) without consideration, it would be a "fraud on creditors".

A corporation, especially one that owes more money than it has, simply cannot get away with transferring money or property to somebody else (or as you propose to another company) essentially as a "gift".

Here's a novel idea. Try paying what you owe instead of trying to dodge your legal debts. If you don't have the money, then try working out a payment plan with the creditor or file for bankruptcy.