If a lender or merchant cash advance company has sued you and a judgement has been filed against your business, you’re in serious jeopardy. If the judgment is out-of-state, it could take them longer to get to you and seize your assets, but once that judgment reaches Texas, in short order they will seek to seize commercial assets and leave you in dire straits.
We've witnessed numerous instances where businesses faced the harsh reality of having their trucks towed from job sites, computers and desks being physically removed from offices, and bank accounts being targeted and drained. This leaves businesses struggling to complete jobs and provide employees with the necessary tools. It also makes it difficult, if not impossible, to meet payroll, pay bills, and fulfill other financial obligations.
Essentially, if it's a commercial asset, and a judgment has been filed against your company, creditors have the legal right to come and seize those assets, regardless of the impact on your business operations.
In Texas, if a judgment is obtained, creditors do have the right to seek and seize personal assets. That doesn't include your home or other exempt assets, but it does mean boats, RVs, and any extra vehicles you own could be at risk.
If a judgment has been filed against your business, you need to seek professional advice immediately.
Every situation is unique. If you have questions, contact our office. We'd love to help you.
The material and information contained on this website is for general information purposes only. You should speak with an experienced attorney in your area before making any legal decisions.