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	<title>Comments on: HELP! Someonee who knows about judgement collection?</title>
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	<pubDate>Mon, 13 Feb 2012 23:08:18 +0000</pubDate>
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		<title>By: northernhick</title>
		<link>http://smallbusinessmerchantaccounts.org/help-someonee-who-knows-about-judgement-collection.htm/comment-page-1#comment-471</link>
		<dc:creator>northernhick</dc:creator>
		<pubDate>Wed, 08 Jul 2009 14:44:08 +0000</pubDate>
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		<description>I don't know the finer points about collections - liens, seizures, auctions, etc. - but I know the basic principles.

Generally, if your company is incorporated (I assume yours is), then you are *not* liable for the debts and obligations of the corporation, unless you sign a personal guarantee.  This is a general rule, and there are exceptions.  There are legal doctrines on which personal liability can be sought (piercing the corporate veil, for example).

So it's possible for them to go after your personal assets.  Not necessarily easy, but possible.

If there are assets, and if the corporation is continuing to do business, then they'll likely be able to collect one way or another.  Seizing your assets or taking your revenues is usually possible in such a circumstance.</description>
		<content:encoded><![CDATA[<p>I don&#8217;t know the finer points about collections - liens, seizures, auctions, etc. - but I know the basic principles.</p>
<p>Generally, if your company is incorporated (I assume yours is), then you are *not* liable for the debts and obligations of the corporation, unless you sign a personal guarantee.  This is a general rule, and there are exceptions.  There are legal doctrines on which personal liability can be sought (piercing the corporate veil, for example).</p>
<p>So it&#8217;s possible for them to go after your personal assets.  Not necessarily easy, but possible.</p>
<p>If there are assets, and if the corporation is continuing to do business, then they&#8217;ll likely be able to collect one way or another.  Seizing your assets or taking your revenues is usually possible in such a circumstance.</p>
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