Legal Question in Business Law in Arizona

I am a customer and my vendor who is an LLC owes me $7,500.00 from 6 months ago. I sent the account to a collection agency and they are telling me they can not make contact with them and the phone numbers have been disconnected. It is possible they have closed the business due to the miserable economy. Is it still possible to collect from an LLC if they have closed?

Asked on 6/01/10, 4:14 pm

4 Answers from Attorneys

David Anderson Anderson Business Law LLC

Yes. The LLC may have assets and income or the ability to generate income from assets, including Accts Receivable, loans to the LLC etc.

Call or email if you wish assistance.

I have been representing creditors in business collections for 29 years.

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Answered on 6/01/10, 7:26 pm
Lance Davidson Lance S. Davidson, P.C.

You may also be able to pursue the members of the LLC personally.

Lance Davidson, or call 480-860-9390. Thank you.

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Answered on 6/01/10, 7:35 pm
Kevin B. Murphy Franchise Foundations, APC

An attorney will tell you, in very limited cases, you can pursue the members of an LLC personally. This is generally a long shot, and you're going to end up paying an attorney a lot of money - perhaps more than the $7,500 owed. Unless you have an attorneys fee clause in your contract, you will be unable to seek reimbursement for whatever you end up paying your attorney. So apply a little common sense and see where that takes you. Consult with an attorney in your area for specific advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 6/02/10, 7:10 am
Donald W. Hudspeth The Law Offices of Donald W. Hudspeth, P.C.

There are still options open to you. We can probably locate the principals of the LLC or the stat agent, if any, for service of process. Depending on which course of action you choose to take, say in Justice Court or through a collection agency, it can still be cost-effective, although there are no guarantees that you will collect anything.

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Answered on 6/02/10, 3:03 pm

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