I want to LLc my co, will creditors be able to go after my paypal/Business Account

[ulita]

I do have 2 Judgements, I know they can get my personal accounts, but onces I get my LLC can they get my Co acounts I am looking into doing a BK,but that will take time

[plumbingbg]

ha i am going through same problems you are, i got a judgement so i closed my business account checking which sucked and i have to wait awhile also and have been scared since i am in process of getting a llc now to help protect any assets i my have in future that would be paid off but i am planing on not opening any bank accounts period until bk over in future just to scared but from what i read about llc it is a very gray area when it comes to accounts and judgements i have read good things and i have also read about people getting there llc accounts garnished from personal creditors so i would have to say wait if you can to be safe but i would get the llc to maybe help any assets you may have now or in the future if you dont mind me asking how long you had the judgements i just been kinda scared but really i dont have any assets hell my house is upside down my bk lawyer told me that once we file we can get any leins removed since house upside down i wish you well

[ulita]

i got the letter last week they got judgement

[AngelinaCat]

You both need to check into this situation very carefully since you both have judgments.

Everything I have read indicates that you form corporations, or LLCs BEFORE you go into business as that entity, precisely because of the situations you both have. You form the corporation, or LLC, to put a 'veil' between you and your personal assets, so that a creditor cannot file suit and touch it.

From my understanding, you have to administer your personal accounts, and your business accounts separately--in great detail I have read, and not let either one of them 'touch' the other, or the creditor, when choosing to sue, can 'pierce the veil', and go after your personal accounts.

Since you both have existing judgments against you, I do not know if you will be allowed to form LLCs. I would tend to think not, because that would be 'after the fact', but I could be wrong.