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answered on Feb 14, 2018
My suspicion is that the company wrote your debt off when it sold it to the collection company. However, I'd recommend having an attorney review the situation for you to give a more definitive answer.
Credit card company has my debt written as a tax write-off. Collection company is still trying to collect. If the first company writes off the debt, can a collection company collect off of it?
answered on Feb 14, 2018
My understanding is that they can. The company wrote off the debt when they sold your account to the collection company. I'd recommend reviewing the whole situation with an attorney.
answered on Mar 9, 2018
It will effect you if you buy the business along with its current obligations. For this reason, it's important to structure the sale so that it protects you against claims directed at the former owner.
Someone is threatening to take me to court over a business I am registered to as the owner. The other party was going to be added on as a part owner but the paperwork was never filed. Now we have decided not to work together. The other party wants money for the time spent helping the business... View More 
answered on Jan 7, 2018
I had a very similar case in Orlando a few years back. The parties were planning a joint venture, but it never went through. Unfortunately, my client made some verbal promises that the other party relied on and started moving forward as if they agreement had been made. My client didn't stop... View More
and we must finish paying on our lease for another 6 months. Can we file for bankruptcy and would it be helpful
answered on Dec 23, 2017
I would speak with an attorney as soon as possible because the solution will be very specific to your situation. In general, the landlord may be able to utilize company assets to collect on unpaid rent. Bankruptcy may be an option, but depending on which chapter you file, if the value of the assets... View More
answered on Dec 15, 2017
This is a great question and one I am addressing in my business law class right now. Although about 60% of businesses in Idaho operate as sole proprietorships, there can be a great benefit in operating as an entity. The primary reason tends to be that you can limit some liabilities if you operate... View More
Basically, if I wish to just walk away from the company if my partner dies, can the widow come after me for any $$$ outside of the LLC if I am willing to let her have the whole company? Thanks!
answered on Mar 27, 2017
That depends entirely on the terms of your LLC "operating agreement," but those corporate formation documents (and LLC laws generally) typically shield members and owners of an LLC from all personal liability.
the company in oregon is buying the clothes from us and then selling for their own profit. also for clothing lines, as a retailer do i need do i need anything else. for internet sales do i need any special licenses.
answered on Jan 16, 2017
Shipping merchandise to OR is not considered doing business in that state, so registering as a "foreign" corporation is not necessary.
I was served lawsuit papers from a business creditor. When I was divorced from my spouse earlier this year I was removed as a member/manager of our business we owned together, which is an LLC. Can I be liable or have my wages garnished for this lawsuit? Court date in Missouri is July 13th. What do... View More
answered on Jul 14, 2015
If you were served papers, you should make sure and hire a lawyer to respond before a default judgment is entered against you. Whether or not you are right or will win, you have to respond promptly.
answered on Aug 29, 2015
If you are required to register, then why not just register?
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific... View More
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