Legal Question in Credit and Debt Law in Illinois
I want to start a business and my brother wants to be involved and have it in his name as well. Problem is he owes medical bills and has been threatened to have a lien placed on his property. Does that mean they can place a lien on the business?
Asked on 1/02/15, 6:38 pm
1 Answer from Attorneys
Jonathan Shimberg
Shimberg and Crohn, P.C.
They may have the right to put a lien on his assets. There are various structures that a business can be set up under. Depending on the structure the value of your brother's interest may not be lienable.
Answered on 1/03/15, 4:55 am
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