Legal Question in Credit and Debt Law in Florida

can personal judgement effect my business

About a year ago, I started a business with 2 of my friends. I hold 24% of the corporation. I have recently been served with a summons from an old credit card debt. My businsess is not doing so well, and I am not in the position to pay off the debt. Can they go after my business? The debt is for less than $2000. I know they are going to win a judgement, but can this effect my business? We are incorporated but I don't know if they can take my 24%.


Asked on 3/07/08, 8:36 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: can personal judgement effect my business

The judgment creditor may levy and sell any non-exempt asset owned by or in which the judgment debtor has an interest to the extent of that interest. You own shares. The shares are subject to levy and sale.

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Answered on 3/11/08, 11:46 am


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