Legal Question in Credit and Debt Law in Michigan

I had a company that went under. However, when I had the INC open I could not get a business loan so I had to buy a truck by getting a personal loan. After the company went under, they repossessed the truck, sold it at auction and are now suing me for the difference that is owed on the truck even after it was sold.

1. I know the judgment creditor can garnish my personal bank account but what about my the LLC I have since opened? This LLC is in a totally unrelated industry that I opened. Can that judgment creditor garnish the LLC's account?

2. I own a car that is co-owned by a non-family member. This co-owner has absolutely no blood relation (not even a distant relative). Can the judgment creditor take that car. That non-family member has absolutely nothing to do with this debt and the co-owned car was bought about 6 months prior to the purchase of the truck that was eventually repossessed. So the car in question was bought and co-owned by a non-family member before the truck debt ever existed. Can the judgment creditor take this car?


Asked on 4/17/12, 11:19 pm

2 Answer from Attorneys
Timothy Klisz Klisz Law Office, PLLC

Fairly simple answers. 1. They cannot get to the Llc account, because they did not sue this Llc and have no right to garnish an unrelated account. 2. This vehicle is fair game. They will seize, sell and give half to the co owner. They keep the half that you own. If you need defense help, contact me to discuss. Tim Klisz kliszlaw.com

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Answered on 4/18/12, 4:33 am


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