Legal Question in Business Law in New Jersey

Re: Is our home at risk?

Hopefully, the protection began a long time ago when the business was formed. The LLC form of business generally isolates the individual owners (members) from personal liability for the debts of the company. There are exceptions. The two most notable of these exceptions are: (1) The LLC form does not overcome personal guarantees that are often required by institutional lenders; and (2) Creditors may avoid the effects of the LLC protect if insiders prefer themselves when the company is insolvent or nearly insolvent.

That is just a sketch of the problem and the issues. You have a lot at risk. I would recommend that you discuss your particular situation with a lawyer who can advise your specifically. My firm handles matters of this type, however it may be easier for you to work with a lawyer whose office is closer to you. (You did not give your Zip code. My firm is in Marlton.)

See also: http://info.corbettlaw.net/lawguru.htm

Re: Is our home at risk?

I have read what you wrote.

I have read what the other lawyers wrote.

No lawyer can possibly promise you that you do not have a problem.

I suggest that you go see a lawyer, and pay him or her to look over your situation and give you some advice.

Otherwise, you may find out that you have a problem only when the Sheriff hands you a lawsuit against you for huge amounts of money.

Please call me if you would like me to assist you. I am in Hackensack, right across from the Bergen County Courthouse.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru. This website, LawGuru, will NOT let me list my phone number in this response.

Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The response that you have received is based only on the small amount of information which you have provided. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

Re: Is our home at risk?

You've already started by having an LLC... What this means is that the company is treated as a seperate entity, for the most part.

Your assets should for the most part be protected, if you need further assistance you may contact us at 877.229.3394 and selecting to speak to me, lead attorney carlos gonzalez, to schedule a consultation for an in depth discussion of your situation.