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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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This case is a collection in licking county, Ohio. American

Resolved Question:

This case is a collection in licking county, Ohio. American Express Vs My company an LLC that is closed/out of business in 2007. Plaintiff (AMEX) filed a motion for leave to file a motion for summary judgement. Checking the status of my case I see today that on June 4th "Entry granting Plaintiff leave to file a motion for summary judgement". I would like to know what this means and if this would result in any of my personal or business assets to be taken seized? Or is there action I can take to protect my property?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 4 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification.




WALLSTREETESQ :

This is an unfortunate situation, I will try my best to answer your questions, in terms of the meaning of the Plaintiff being able to file a motion for summary judgment, that allow the Creditor to file a motion to the Court to obtain a money judgment against you. If you do not oppose the motion, they will be able to obtain a judgment.


 

WALLSTREETESQ :

In terms of your personal assets, the Plaintiff can only go after assets named in the law suit, so if your personal name was listed the creditor can only go after those assets in your personal name.


 

WALLSTREETESQ :

To protect your assets, you can either file a bankruptcy, or consider removing assets from your personal name, such as bank accounts etc.


 

WALLSTREETESQ :

You would have to make sure their was no Court order prohibiting you from doing this.


 

WALLSTREETESQ :

If the law suit was against the LLC only and you never personally guaranteed the debt, the creditor could not go after your personal assets.


 

Customer:

At present I have 100% interest in a new business start-up Is it exposed too?

WALLSTREETESQ :

If it is a corporation, it would not be subject to collection, as a corporation assets are seperate. However, if you are forced by the Court to list all your assets, you may have to list your 100% ownership in the Corp as a personal interest, and it is possible that the Corporation shares could be taken.


 

WALLSTREETESQ :

If it comes to that stage, then I would consider filing a bankruptcy or try to settle with the creditor.


 

Customer:

How much time is given to file a motion to oppose?

WALLSTREETESQ :

Typically you would have up to 20-30 days to oppose, if you were served the papers it would state the time frame, if you were not served, go to the Court and look at the Court file, typically 20-30 days is the time given to oppose.


 

Customer:

thank you

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask.


 

WALLSTREETESQ :

If satisfied please provide us with positive feedback so we can receive credit.


 

WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you
Expert:  WALLSTREETESQ replied 4 years ago.

This is an unfortunate situation, I will try my best to answer your questions, in terms of the meaning of the Plaintiff being able to file a motion for summary judgment, that allow the Creditor to file a motion to the Court to obtain a money judgment against you. If you do not oppose the motion, they will be able to obtain a judgment.

5:58 PM

In terms of your personal assets, the Plaintiff can only go after assets named in the law suit, so if your personal name was listed the creditor can only go after those assets in your personal name.

5:59 PM

To protect your assets, you can either file a bankruptcy, or consider removing assets from your personal name, such as bank accounts etc.

5:59 PM

You would have to make sure their was no Court order prohibiting you from doing this.

6:00 PM

If the law suit was against the LLC only and you never personally guaranteed the debt, the creditor could not go after your personal assets.

Expert:  WALLSTREETESQ replied 4 years ago.
Hi


I'm just following up with you to see how everything is going. Did my answer help?


Let me know,