Legal Question in Credit and Debt Law in Georgia

Theft by Conversion

When I was an officer of an LLC, I personally guaranteed the leasing of equipment for the company. I left the company a short time later. It turns out the LLC never satisfied any of the payments and is now dissolved. I got a call from a collections company stating that I owe them $61,000.00 for the leased equipment. (I understand I am on the hook from a collections and civil standpoint for the amount since I personally guaranteed). The collections rep told me that if I did not pay the full amount that they were going to file felony theft by conversion charges against me. Is this just a scare tatic to get me to pay? Or could they actually do this for the lease that I personally guaranteed? I left the company and have not heard anything from the leasing company up until now. ( I am assuming that it is because the LLC is dissolved and I am easy to locate even though I am not with the company anymore) The original lease I guaranteed is in New Jersey but I live in Georgia. Any advice would be appriciated.


Asked on 1/12/09, 10:03 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Theft by Conversion

Unless you have omitted facts, we are talking a civil and not a criminal case. However, because of the size, it is imperative that you talk to a lawyer right away, and you should cease talking with collectors. That is almost always a huge mistake.

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Answered on 1/12/09, 12:27 pm


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