How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 53961
Experience:  Attorney with 29 years of experience.
17027240
Type Your Legal Question Here...
Richard is online now
A new question is answered every 9 seconds

You had helped me once before when I received a summons from

Customer Question

You had helped me once before when I received a summons from a printer trying to sue my S-Corp for funds which we were not able to pay due to the change in the economy. You wrote a letter for me as well which I sent to the printer. The same printer received a judgement against our company - even though I did send a reply to them within the time frame listed on the original Summons. Our company is really dormant and we have no assets and a little bit of money in our bank account (like a couple hundred). Nowhere on the Summons were my husband or myself named, except as a reistered agent - only the name of the corporation. My question is do I need to worry about this? I have always thought that the purpose of having a corporation was so that you could be kept separate from your company in case problems like this came up. I find it annoying that this attorney for this printer did this but can live with it if I knew that there is really nothing to be done since the company has no assets. Can you let me know if this is the case? Why do these types of things always happen on weekends, anyway? Ugh, so upsetting!
Submitted: 1 year ago.
Category: Legal
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

No need to worry. You and your husband have no personal liability for this and your personal assets are not at risk. The only recourse this judgment creditor has is to go after the corporations assets...i.e., the couple of hundred dollars in the bank. Whether or not it will spend the time and expense to do that is uncertain. But, that is your total exposure. This will not impact your credit rating at all as your corporation is a separate and distinct entity. :)

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!

Related Legal Questions