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Roger
Roger, Attorney
Category: Legal
Satisfied Customers: 31405
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have a cash judgment against me that I would like to keep

Customer Question

I have a cash judgment against me that I would like to keep from going after my trading capital. Is there a state that protects single member LLC's from being levied to settle the members's personal debt?
Submitted: 1 year ago.
Category: Legal
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

Some states do not allow garnishments, but all states allow writs of execution, which is what would be used to seize one's interest in an LLC and liquidate it to pay down the judgment.

You'd be better off to file bankruptcy to rid yourself of the debt or to try and reach an agreement with the creditor to settle the debt.