Business Law

Ask a business lLawyer. Get business law questions answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

I have an llc that owes more money to vendors than we can…

Customer Question
I have an llc...

I have an llc that owes more money to vendors than we can pay. We have been paying to our own detriment and just can't anymore or we won't have a company. I desperately want to keep one of our 2 locations. Should I file bankruptcy or just let them them sue me because I have nothing to pay them with anyway?

Lawyer's Assistant: When we are ready I'll take you to the appropriate web page.

Ok

Lawyer's Assistant: Has an LLC annual report been prepared?

I haven't even heard of an LLC report. What does that entail?

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

But we owe a great deal and vendors are harassing us

Submitted: 1 year ago.Category: Business Law
Show More
Show Less
Ask Your Own Business Law Question
Answered in 5 hours by:
8/10/2017
Business Lawyer: N Cal Attorney, Attorney replied 1 year ago
N Cal Attorney
N Cal Attorney, Attorney
Category: Business Law
Satisfied Customers: 9,881
Experience: Since 1983
Verified

Thank you for your question.

Where is the LLC incorporated? It that where you are located?

Ask Your Own Business Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a business lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Infolawyer Your Own Question
Infolawyer
Infolawyer
Infolawyer, Attorney
Category: Business Law
Satisfied Customers: 2,050
2,050 Satisfied Customers
Experience: Experienced lawyer

Infolawyer is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

2,050 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

778 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

683 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

604 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
Due to my husband being a 100% disabled vet I am no longer
Hi, due to my husband being a 100% disabled vet I am no longer able to do my home-based business and I have no more money coming in from it. However, I still owe loan payments to Kabbage. Is there any… read more
RGMacEsq
RGMacEsq
Attorney
Doctoral Degree
778 satisfied customers
In June 2014, my husband and I bought 43 rent houses from
In June 2014, my husband and I bought 43 rent houses from L-C Rentals, LLC We've been paying on the note ($10,000/month) every month as our contract required. Recently, the seller has decided he doesn… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,773 satisfied customers
, we run a small business selling auto parts. A vendor
Hello, we run a small business selling auto parts. A vendor gave us two checks ($398.00) and ($1435.00). Both checks have been returned unpaid for not sufficient funds. We have made several attempts t… read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
37,230 satisfied customers
This is gonna take a while. Expect a big tip. I have a
This is gonna take a while. Expect a big tip. I have a client that is a private school owned by a non-profit. The client spoke to a vendor that would provide food to their kids. The client told the ve… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
LLC Trouble with Partner and Foreign business I know that
LLC Trouble with Partner and Foreign business I know that this may sound complicated but I'll try to make it clear. As a business in Austria, my partners and I decided to set up an LLC in the USA a fe… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
Hello, I gave a personal loan to another individuals company
Hello, I gave a personal loan to another individual's company under a LLC. This was a business investment with a fixed-time for repayment and a return on capital. Unfortunately, this person claimed th… read more
Barrister
Barrister
Attorney
Doctoral Degree
683 satisfied customers
I have a C-Corp that had wittled down to 1 employee due to
I have a C-Corp that had wittled down to 1 employee due to a couple people moving out of the area rather abruptly. It supplied the management (i.e. manpower) for an LLC machine shop. I was geographica… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Can a WA state web-based *business* file for a restraining
Can a WA state web-based *business* file for a restraining order / harassment against an individual? Or only against another business?… read more
MShore Law
MShore Law
Attorney
Doctoral Degree
1,233 satisfied customers
Hello. My wife and I are equal partners in a South Carolina
Hello. My wife and I are equal partners in a South Carolina LLC running a small home business. We mostly drop ship products through Internet sales. We obtained a few images of products from one of our… read more
Barrister
Barrister
Attorney
Doctoral Degree
683 satisfied customers
I have a business partner (Partner #1) in an llc that has 34%
I have a business partner (Partner #1) in an llc that has 34% share of the company. I have 33% Share another silent partner has 33% share. Partner #1 also has another business that utilizes our busine… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
2,050 satisfied customers
I want to start a tree service in Virginia under an LLC name.
I want to start a tree service in Virginia under an LLC name. I know how, but how do I get my trucks and equipment under the LLC name and if I do this can I file personal bankruptcy without the LLC th… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
I own 50% of an LLC. My partner is trying to sell his share
I own 50% of an LLC. My partner is trying to sell his share cuz he has no money and we are not making it right now. He owes me $2K in back rent. I have also heard through the grapevine he is asking ar… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I have a Nevada corp and an LLC My objectives are: 1. Have
I have a Nevada corp and an LLC My objectives are: 1. Have my Nevada corporation rent a home in Colorado and pay for it's expenses. 2. Be able to be a guest teacher and speaker in Colorado established… read more
socrateaser
socrateaser
1,031 satisfied customers
Is there an attorney available online to represent my company
Is there an attorney available online to represent my company with a phone call to a collection agency to try arrange payments for heavy equipment? We missed two payments and they are stating they goi… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I am a LLC in the State of Colorado. I have several vendors
I am a LLC in the State of Colorado. I have several vendors that I deal with and owe money - some with and without personal guarantee. If to avoid legal issues, court time and I send them what I can a… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
2,050 satisfied customers
I am a shareholder in a C corp with three other shareholders.
I am a shareholder in a C corp with three other shareholders. We are a very small business since 2002 basically working as contractors for the company. Two of the shareholders are "silent" and have no… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
Hello my european vendor is owed 120K and we are not paying
Hello my european vendor is owed $$ and we are not paying them because they opened an office in USA under our name and stopped selling to us. We both know the cost of litigation and their suggestion i… read more
FLACORPLAWYER
FLACORPLAWYER
Doctoral Degree
1,750 satisfied customers
I had a business that I had to close & it was under an LLC.
I had a business that I had to close & it was under an LLC. I cancelled the ADT service for the store & did not know that there was an early termination fee. We had requested a transfer of service fro… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
2,050 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x