What Happens If a Judgment Has Been Filed Against My Business?
E.J. Simonsen | Jun 21, 2022
If a lender or a merchant cash advance company has sued you and obtained a judgment 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.
If a Judgment Has Been Filed Against My Business, Can They Seize My Commercial and Personal Assets?
We've seen business owners have their trucks towed from the job site, computers and desks taken out of offices, you name it. If it's a commercial asset, and a judgment has been attained against your company, they have the right to come and seize those assets.
If a judgment is obtained here in Texas, they do have the right to seek and seize personal assets. That does not mean your home or other things that are considered non-exempt assets, but it does mean your toys — maybe your boat and RV, extra vehicles.
Where to Turn If a Judgment Has Been Filed Against Your Business
If a judgment has been levied 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.