Help me please, in a mess. (credit score, lend, loan, insurance)

[Worriedgirl]

I would pay a lawyer if I had money, but I'm struggling to pay the bills and trying renegotiate the lease on one of my corporations that I am 4 months behind on.
Long story made short.. Last yr I contracted with a leasing agency to have equipment made. The leasing agency gave the cabinet maker half of the money agreed upon to start building the equipment. The cabinet maker never made any equipment, but lied to the leasing agency saying that he had made 50% of the equipment. I have received absolutely nothing, but now there is a judgement against me from the finance institution from another state for the money that was fronted by the leasing agency.

I did not realize that I needed to do anything when the paper that was sent to me said it was a COMPLAINT. I did not know it was a law suit when it said complaint. Just this past week the judgement was filed in Florida as I was alerted to it by the credit watch service. My question is this.

I have 2 corporations, which I will call corp a and corp b. The judgement is against corp a and myself. Can the judgement attach child support funds and corp b? Your help will be greatly appreciated...

[mango23]

Originally Posted by Worriedgirl

I would pay a lawyer if I had money, but I'm struggling to pay the bills and trying renegotiate the lease on one of my corporations that I am 4 months behind on.
Long story made short.. Last yr I contracted with a leasing agency to have equipment made. The leasing agency gave the cabinet maker half of the money agreed upon to start building the equipment. The cabinet maker never made any equipment, but lied to the leasing agency saying that he had made 50% of the equipment. I have received absolutely nothing, but now there is a judgement against me from the finance institution from another state for the money that was fronted by the leasing agency.

I did not realize that I needed to do anything when the paper that was sent to me said it was a COMPLAINT. I did not know it was a law suit when it said complaint. Just this past week the judgement was filed in Florida as I was alerted to it by the credit watch service. My question is this.

I have 2 corporations, which I will call corp a and corp b. The judgement is against corp a and myself. Can the judgement attach child support funds and corp b? Your help will be greatly appreciated...

You need to talk to a lawyer. When you say you can't afford to, you really can't afford not to.

[Worriedgirl]

I know you are right, but it is truly the difference between putting food on the table or not. I am a single mom trying hard to stay afloat.

[Tightwad]

There is little choice for you now but to engage a lawyer to protect you and get the facts in front of the courts. If you can't afford one then look for state aid lawyers, pro bono lawyers or those that work for percent of what they save you. JUST GET A LAWYER PRONTO!!!!!!!!!!

Failure to get protection could bankrupt you & your business.

[bale002]

Originally Posted by Worriedgirl

I have 2 corporations, which I will call corp a and corp b. The judgment is against corp a and myself. Can the judgment attach child support funds and corp b? Your help will be greatly appreciated...

You really should have consulted a lawyer, it's like paying insurance, or, if you prefer, you have pay the mafia to receive protection.

Anyway, I doubt they could attach child support, however, if you own stock in corporate b, your creditor could possibly attach that.

My understanding is that a corporation is useless, unless you plan on publicly issuing stock, and that LLCs are the way to go: you could have set up separate LLCs, isolating yourself from them and each one from the other.

Now it seems it's a bit too late.

Good Luck!

[desertsun41]

Originally Posted by Worriedgirl

I would pay a lawyer if I had money, but I'm struggling to pay the bills and trying to renegotiate the lease on one of my corporations that I am 4 months behind on.
Long story made short.. Last yr I contracted with a leasing agency to have equipment made. The leasing agency gave the cabinet maker half of the money agreed upon to start building the equipment. The cabinet maker never made any equipment, but lied to the leasing agency saying that he had made 50% of the equipment. I have received absolutely nothing, but now there is a judgement against me from the finance institution from another state for the money that was fronted by the leasing agency.

I did not realize that I needed to do anything when the paper that was sent to me said it was a COMPLAINT. I did not know it was a law suit when it said complaint. Just this past week the judgement was filed in Florida as I was alerted to it by the credit watch service. My question is this.

I have 2 corporations, which I will call corp a and corp b. The judgement is against corp a and myself. Can the judgement attach child support funds and corp b? Your help will be greatly appreciated...

You posted this story word for word in 4 different forums. The story also has some holes in it that I do not understand. Cabinet makers do not make equipment. What do you mean by that? Are you in the cabinet biz and was about to purchase a CNC or some simular equpt? What leasing company would lend money or get involved in a leasing deal with a business that has no hope of success? That is not putting you down. I say this because I know since I been in that biz for 30 years and I also know this country is in a deep economic depression. Especially Florida.

If the leasing company had a contract with you then they had a contract with the company who you are purchasing the equpt from too. The leasing co should be going after the machinery company. You have no obgligation to anyone as you kept your end of the deal. There is much more to this. Much more.

No one purchases equpt and waits for it to be built. They have it in inventory. Either cash and carry or have it shipped to you. What's going on?

Another thing that makes no sense is your post in Florida said hiring a Lawyer is the difference between feeding your kids or going after the law suit. If you are that lack of cash then I guaranfreakingtee you that no bank on earth would have even considered you for a loan. None. It never even would have gotten to this point. There is zero loan money out there for 900 credit scores and millions in liquid assets, how the hell would you have managed to get financing?

[TampaKaren]

I'm with mango; consult a lawyer! There are attorneys who do pro bono work and some don't charge for the first consultation. Try to find one where you live. Anyone else is just trying to interpret the law and the advice you receive may not be correct.