Legal Question in Business Law in Florida

Personal Debts and Corporation

If I am the president of a corporation or LLC, and I have a foreclosure judgement on my personal record (not the company)can they come after my company or affect it in any way? And if at some point I can actually make a salary from it can they garnish my wages and/or tax return monies??


Asked on 9/23/08, 5:17 pm

1 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

Re: Personal Debts and Corporation

Generally, the Corporate assets are protected from your personal debt. However, there are exceptions to this and whether it can be done are extremely fact specific. You should consult with your business attorney or a bankruptcy attorney.

As for garnishment of any salary, that too is fact specific and dependent on many things. There are certain exemptions afforded to you, and certain requirements put upon the judgment creditors.

I can recommend a couple of people in the Miami area.

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Answered on 9/23/08, 6:56 pm


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