Legal Question in Business Law in Arizona
Hi i have a L.L.C business in phoenix,Arizona I have a pending lawsuit against my L.L.C What are the ramifications if i were to ignore the pending lawsuit?
1 Answer from Attorneys
Worse case scenario is they get a judgment with attorneys fees and costs and record it as a lien against the assets of the LLC, then try to collect. If you signed a personal guarantee, they'll go after your personal assets. The recorded judgment can affect your credit and hold up deals where the debt is an issue.
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Phoenix, Arizona 85012-2713
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