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    ColleenW's Avatar
    ColleenW Posts: 2, Reputation: 1
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    #1

    Dec 28, 2007, 05:00 PM
    Business bank accounts/assets vs. personal judgment
    Hi, first time here... I have an LLC in Florida, can my business bank account be frozen or seized and can they take my equipment and business assets? I also have a sole proprietorship but this business doesn't have much going for it at the moment - is it at risk?
    I have a large judgment I am dealing with but was told they can take everything even though I'm making payments - true?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 28, 2007, 05:14 PM
    If your LLC owes money, and you are in default, unless they have agreed not to take things, they can sue the LLC in court and get a judgement against it, and place a lien on money and property that the LLC owns.
    ColleenW's Avatar
    ColleenW Posts: 2, Reputation: 1
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    #3

    Dec 28, 2007, 05:30 PM
    I'm sorry, I wasn't clear. It is a personal judgment against just myself, Can they still take everything?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #4

    Dec 28, 2007, 06:40 PM
    Hello Colleen:

    They can't take the assets of the corporation, because the judgment isn't against the corporation. The judgment is against YOU. YOU own the stock. THAT they can take.

    It doesn't matter that you're making payments. They can come anytime and execute their judgment fully.

    excon
    francuzzo's Avatar
    francuzzo Posts: 2, Reputation: 1
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    #5

    Feb 3, 2010, 03:34 PM
    I have a question. I am foreclosing on two properties that are in my personal name, but I own a few business. These business have were put in my two daughters names (ages 9 and 11) over a year ago and they own all stock. I am a registered agent.

    If the mortgage companies decide to seek a judgement against me, I know they can take my personal assets. However, can they touch my business assets in this situation?
    francuzzo's Avatar
    francuzzo Posts: 2, Reputation: 1
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    #6

    Feb 3, 2010, 03:35 PM

    One last question, can they take a car that is my name?
    bigjerry's Avatar
    bigjerry Posts: 1, Reputation: 1
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    #7

    Feb 26, 2012, 01:47 PM
    Hi I have to old judgement from landlords, I just started a small trucking company an want to llc or incorporate it can old personal landlord judgement freeze my business bank account because a few years ago they frozen an took my personal bank account
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