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?
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.
3030 North Central Avenue, Suite 604
Phoenix, Arizona 85012-2713
Web site www.azbuslaw.com
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The Law Offices of Donald W. Hudspeth, P.C. 3200 N. Central Ave. Phoenix, AZ 85012-2445► Other answers from this attorney