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I have a judgement against my business (sub-chapter S) for…

I have a judgement against...
I have a judgement against my business (sub-chapter S) for past rental space and just received a 90 day writ of garnishment. They got all the cash that was available (thankfully, not to much). Is the 90 day writ fully used now? Or can they hit banking again without notice? State of Oregon.
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Answered in 46 minutes by:
3/17/2018
LegalDan
LegalDan, Attorney
Category: Business Law
Satisfied Customers: 335
Experience: Partner at McCollum Hodgkinson, P.C.
Verified

Hello my name is ***** ***** I am happy to help - How much was the writ for and how much was taken out?

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Customer reply replied 1 month ago
$700,000. And they only got $5000.
Customer reply replied 1 month ago
The whole thing was due to inability to pay building lease, had payment plan with default judgement. And unable to keep payment plan and fell in to default judgement
Customer reply replied 1 month ago
Also, no personal guarantee. Business name only.

okay - thank you for your information - because of the large discrepancy in the money they garnished v what is owed, I would think they would keep coming back and taking bites at the apple. It is well within their rights to continue to seek reimbursement. Obviously I do not know the business, but I think the easiest way for you to get out from underneath this debt would be for the business to file for bankruptcy and file and incorporate a new business.

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Customer reply replied 1 month ago
Ok, since finances are limited, is filing something I can accomplish without an attorney? No real assets, small number of debtors. What type of BK?

I am only allowed to answer one question at a time - to continue with other questions you will need to accept this answer and message me personally as you "favorite" expert. I don't know anything about the business but it is something that you can file personally - or an attorney can do it for around $750.00 start to finish for you.

LegalDan
LegalDan, Attorney
Category: Business Law
Satisfied Customers: 335
Experience: Partner at McCollum Hodgkinson, P.C.
Verified
LegalDan and 87 other Business Law Specialists are ready to help you
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Customer reply replied 1 month ago
Thanks, ***** *****
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LegalDan
LegalDan
LegalDan, Attorney
Category: Business Law
Satisfied Customers: 335
335 Satisfied Customers
Experience: Partner at McCollum Hodgkinson, P.C.

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