Arizona  |  Business Law

Legal Question

Asked on: 4/25/12, 4:07 pm

Hi i have a L.L.C business in phoenix,Arizona I have a pending lawsuit against my L.L.C What are the ramifications if i were to ignore the pending lawsuit?

1 Answer

Answered on: 4/25/12, 11:11 pm by Donald W. Hudspeth

Worse case scenario is they get a judgment with attorneys fees and costs and record it as a lien against the assets of the LLC, then try to collect. If you signed a personal guarantee, they'll go after your personal assets. The recorded judgment can affect your credit and hold up deals where the debt is an issue.

Law Offices of Donald W. Hudspeth, P.C.

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Phoenix, Arizona 85012-2713



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The Law Offices of Donald W. Hudspeth, P.C. 3200 N. Central Ave. Phoenix, AZ 85012-2445

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