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forgot to state this was as a corp officer

forgot to state this was as a corp officer
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Answered in 6 minutes by:
6/28/2010
Kim Courtney
Category: Legal
Satisfied Customers: 4,237
Experience: Founder/Member at Food Business Association
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Yes, my original answer still stands correct. They can still garnish the properties.

Kimberly
Kim Courtney
Category: Legal
Satisfied Customers: 4,237
Experience: Founder/Member at Food Business Association
Verified
Kim Courtney and 87 other Legal Specialists are ready to help you
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Customer reply replied 8 years ago
How con they do personal garnishments when this was a corp.?
So are you saying that the debt was only belonging to the corporation? Or there was a contract with a personal guarantee?
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Customer reply replied 8 years ago

only belonging to the corp. as far as I know.

This was my son's business I had nothing to do with. Accept for the signature because he couldn't get a license.

Ok, I am not sure what your last sentence meant, "except for the signature because he couldn't get a license".

It is common for business debts to be collectable personally, so in that case the attachment would be ok. I just depends on how the papers were signed and what they said.

Kimberly
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Customer reply replied 8 years ago
Meaning, I had nothing to do with the business except signing the papers.
So you signed papers too? In your name? How did you sign, and how did he sign?
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Customer reply replied 8 years ago
Sorry for the confusion.........he could not sign (youngest son) so myself and my oldest son signed for him, for a license and floor plan in order for him to be able to sell cars on his lot.A floor plan being the on going funds to purchase cars to sell. Business busted they repo'd cars left on his lot and went to court up in Ind. Got the judgement against me and my oldest son both who had nothing to do with the business except for trying to help him .
Well, you can't just sign under your names alone, otherwise you are personally liable. That's why they are going after you. You signed a legal contract under your personal name.
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Customer reply replied 8 years ago
Both signed Corp. papers as officers of Corp.......that part is no recourse for them, BUT I'm afraid there may be a unconitional and continuing guaranty signed. If so I guess I'm ...........you know what!!
Ok, again, that's new information.
It sounds like there is a personal guarantee here. You have to look at the contracts to see. If so, there is nothing you can do.
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Customer reply replied 8 years ago
Thank you......appreciate your info.
You are welcome.
Take care.
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