Legal Question in Business Law in Georgia
Am I personally liable for a collections debt if I am no longer a part of the LLC?
Asked on 10/30/12, 11:52 am
3 Answers from Attorneys
Glenn M. Lyon, Esq.
MacGREGOR LYON, LLC, Business Attorneys
It depends. Was the debt the LLC's and it alone? What matters more is whose debt it is since members (owners) of LLCs are not generally liable for the debts and obligations of the company. Repost with more details.
Answered on 10/30/12, 11:57 am
Scott Riddle
Law Office of Scott B. Riddle, LLC
Your question can't be answered. There could be many reasons you are personally liable for a debt, even if it is a business debt.
Answered on 10/30/12, 11:58 am
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
You haven't give enough detail to answer. Did you guarantee the debt personally? How did you cease to be part of the LLC?
Answered on 10/30/12, 11:58 am
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