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    Bark0111's Avatar
    Bark0111 Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 6, 2009, 03:20 PM
    Can I loose my business over a civil judgement
    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's Avatar
    George_1950 Posts: 3,099, Reputation: 236
    Ultra Member
     
    #2

    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?
    theresa75495's Avatar
    theresa75495 Posts: 1, Reputation: 1
    New Member
     
    #3

    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's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
     
    #4

    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

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