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Recent Piercing the Corporate Veil questions

I have an unsecured business loan through Kabbage for my

I have an unsecured business loan through Kabbage for my business (LLC). Due to situations outside of our control I have fallen behind in repayment, but trying to work with them to repay. They have indicated that they will file a lien against my business and I'm nervous of the personal affects this will have against me and my personal property, car and home. My questions is can they come after my personal belongings? My wife and I jointly own our home and I don't want her to feel the affects of my business debt.JA: Can you tell me what state the LLC is registered in?Customer: South CarolinaJA: Has anything been officially filed? If so, what?Customer: Nothing yet. I have been working with Kabbage to establish a repayment plan, but thus far the amounts they have required are far above and beyond what my business is currently generating in revenue.JA: Anything else you want the lawyer to know before I connect you?Customer: Not that I can think of. Thank you.

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legalg

Juris Doctorate

13,532 satisfied customers
Does a Florida business man who owns and operates 100% of a

Does a Florida business man who owns and operates 100% of a consulting Florida corporation, really have to create minutes and a minutes book to ensure that the corporate veil cannot be pierced?

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LawTalk

Attorney at Law

Juris Doctor

32,450 satisfied customers
Dad has property in a single member LLC, which he has not

Dad has property in a single member LLC, which he has not filed returns on or paid the $800 annual fee(s) on since 2009, when he formed them. He does declare their income, however, on his returns. He now wants to put the properties from the LLC back in his name without paying the LLC taxes.JA: Can you tell me what state the LLC is registered in?Customer: CaliforniaJA: Have you talked to a lawyer yet?Customer: noJA: Anything else you think the lawyer should know?Customer: no

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Irwin Law

Juris Doctor JD

8,434 satisfied customers
I am starting a new business, an online loose leaf tea

I am starting a new business, an online loose leaf tea (beverage) company. I am incorporating but I am wondering if that is enough to keep me personally liable for any issues. If not, can you please advise what steps I should take to cover myself? (general business insurance?). Thank you so much!

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Damien Bosco

Attorney

Doctoral Degree

2,750 satisfied customers
Thank you for your complete answer regarding what recourse

Thank you for your complete answer regarding what recourse is available to me with regards ***** ***** AV in this case.Attention:If you are a new attorney to this case please read the entire case to date in my last question to Law Educator, Esq.If you cannot access this case do not answer this question without contacting me first so that I can provide you with that critical information.I now have a new question.The question is what possible legal action by either the AV or the attorney, if any would I be opening up myself up to should I send the letter to the attorney in this case informing him the lies of omission that his client committed and a request that he is whatever influence he has with the client to make good on the consequences of these lies of omission as they relate to me.I would ask him to do this because of the amount of money involved $2,500 is clearly not an amount of money that any sensible person would initiate legal action upon in today's environment. Even though it is clear from the facts of the case that I am indeed owed this money. The letter would be along the lines of the one I outlined in our previous question.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,664 satisfied customers
My partner in our LLC has embezzled funds (taken ATM

My partner in our LLC has embezzled funds (taken ATM withdrawals to use for gambling) for 5 years. How do I handle this? I am not interested in pressing criminal charges but I also want to eliminate any negative tax consequences on me.JA: Can you tell me what state the LLC is registered in?Customer: MDJA: Have you talked to a lawyer yet?Customer: briefly but they weren't much help. They said there is a challenge when it is a partner since they have some "rights" to the funds. What about fiduciary responsibility etc?JA: Anything else you think the lawyer should know?Customer: We are planning on having her sign off of the corporation immediately.JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Corporate Lawyer about your situation and then connect you two.

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legalg

Juris Doctorate

13,532 satisfied customers
I began a discussion with , as listed below. I asked

I began a discussion with Barbara, as listed below. I asked a followup question to her response, but she was offline, apparently.My wife and I own a home, in which she does licensed day care. I am about to lose my job. My wife does not make enough money to support us and our home. We are going to be downsizing considerably. Ideally, we would like to buy a much smaller house, which we could pay for using my wife's income,before our credit rating (over 800) goes down. What are the best ways for us to protect our credit rating in this time of transition?26 May 2016 11:4126 May 2016 12:11BarbaraFinancial ProfessionalWelcome to Just Answer. My name is ***** ***** I will be happy to assist you.You are wise to be proactive in this situation. Your first priority is to list your house for sale as soon as possible since this is the best time of year to sell a house so you can downsize and purchase a smaller, less expensive house.You will also want to continue to pay your bills on time. The following link contains an excellent guideline regarding prioritizing your bills:http://www.moneycrashers.com/bills-pay-off-first/Once you have reviewed the information, please come back to me here if you have any other questions or concerns.Thank you and best regards,Barb26 May 2016 12:30Dear Barb,Thanks so much for your quick response. We are attempting to be proactive.One thing we were wondering was whether we should consider creating an LLC or family trust that would own the house? How would that work?Thanks again!

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

106,664 satisfied customers
Business startup question here.My father is getting ready to

Hello,Business startup question here.My father is getting ready to retire in one years time. He has always wanted to set up his own licensed and insured general contracting business. He wants to get it up and running before he actually retires. I am able to help him to do this forapproximately 20 hrs per week. The work is definitely there. We live in Pennsylvania. The general idea is that I would help him get this business off of the ground working about 20 hours a week at minimum wage. I don't want to make him pay me any more than this but I would be have to be an employee. The only employee until he retires.What is the best way to go about this and which is the best form for the company (SCorp, LLC etc.)? Does he need to also pay himself even though he probably won't be actually performing any "work".I will have some follow up questions too if that's OK.Please provide a detailed answer.Thank you for your time

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Richard - Bizlaw

Juris Doctor

9,616 satisfied customers
My corporation is being sued in a bankruptcy case and the

My corporation is being sued in a bankruptcy case and the trustee is asking for summary judgement. The summons only named my corporation and not me personally. Once a judgement us rendered is there anyway the trustee could go bac and sue me personally?

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Irwin Law

Juris Doctor JD

8,434 satisfied customers
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