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    Dennis9621's Avatar
    Dennis9621 Posts: 1, Reputation: 1
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    #1

    Apr 26, 2009, 04:50 PM
    Writ of Garnishment
    If I have a personal debt that received a writ of garnishment against my bank accounts, do they have the right to place a writ of garnishment on the company that I own also?
    This is a corporation in the State of Florida.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Apr 26, 2009, 04:53 PM

    That's why you create a corporation, to keep personal assets separate from business assets. So anything in the name of the corporation is safe.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Apr 26, 2009, 05:48 PM

    As long as you set the corporation up correctly, and have not accessed company funds improperly so to mix personal and company funds
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #4

    Apr 27, 2009, 04:50 PM
    Quote Originally Posted by ScottGem View Post
    ... anything in the name of the corporation is safe.
    Quote Originally Posted by Fr_Chuck View Post
    As long as you set the corporation up correctly, and have not accessed company funds improperly so to mix personal and company funds
    Incorrect. Your personal assets cannot be taken to satisfy the debts of the corporation. But corporate limited liablitiy doesn't work the other way. Your ownership interest in the corporation (shares) can be seized to satisfy your personal debts.
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