{"id":8212,"date":"2024-09-18T08:14:56","date_gmt":"2024-09-18T15:14:56","guid":{"rendered":"https:\/\/www.racinelaw.net\/blog\/?p=8212"},"modified":"2024-10-23T11:05:16","modified_gmt":"2024-10-23T18:05:16","slug":"collecting-from-an-llc","status":"publish","type":"post","link":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/","title":{"rendered":"COLLECTING FROM AN LLC"},"content":{"rendered":"<p>By <a href=\"https:\/\/www.racinelaw.net\/stephen-j-muhonen.html\">Stephen J. Muhonen<\/a>, <a href=\"https:\/\/www.racinelaw.net\/bankruptcy-creditor-rights.html\">Creditor\u2019s Rights \/ Collections Attorney<\/a>,<a href=\"https:\/\/www.racinelaw.net\/\"> Racine Olson, PLLP<\/a><\/p>\n<p>Isn\u2019t it irritating as a creditor when you discover in your contract with a customer\/debtor that you don\u2019t have a personal guarantee in the file and your only recourse on a delinquent account is against an entity, such as an LLC? Often for creditors, the lack of a personal guarantee on the promise to pay by the debtor LLC means an account may very well be uncollectable. This can be a common frustration when working with small entities and as a creditor, you are really hoping the LLC has unencumbered assets.<\/p>\n<p>In general, collecting against an LLC is similar to collecting against an individual. However, LLC\u2019s do not have the availability of exemption protections that individuals have. Take the time to research the county assessor\u2019s records to see if the LLC has an ownership interest in any real property located in the county. If it does, record your judgment with the county assessor so as to have a lien on the real property. Now whether you can collect from the real property may be determined by the value of or equity in the real property. The purchase of a lot book or a litigation guaranty from a title company is helpful in this regard and it will show encumbrances on the property.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/\"  title=\"Continue Reading COLLECTING FROM AN LLC\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Stephen J. Muhonen, Creditor\u2019s Rights \/ Collections Attorney, Racine Olson, PLLP Isn\u2019t it irritating as a creditor when you discover in your contract with a customer\/debtor that you don\u2019t have a personal guarantee in the file and your only recourse on a delinquent account is against an entity, such as an LLC? Often for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-8212","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-creditor-rights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COLLECTING FROM AN LLC &#8212; Idaho Law Blog &#8212; September 18, 2024<\/title>\n<meta name=\"description\" content=\"By Stephen J. Muhonen, Creditor\u2019s Rights \/ Collections Attorney, Racine Olson, PLLP Isn\u2019t it irritating as a creditor when you discover in your contract &#8212; September 18, 2024\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"COLLECTING FROM AN LLC &#8212; Idaho Law Blog &#8212; September 18, 2024\" \/>\n<meta name=\"twitter:description\" content=\"By Stephen J. 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Muhonen, Creditor\u2019s Rights \/ Collections Attorney, Racine Olson, PLLP Isn\u2019t it irritating as a creditor when you discover in your contract &#8212; September 18, 2024","twitter_misc":{"Written by":"Racine Olson","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/#article","isPartOf":{"@id":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/"},"author":{"name":"Racine Olson","@id":"https:\/\/www.racinelaw.net\/blog\/#\/schema\/person\/aa8aa04699b3ee65fb6e3d91aaa6b2bd"},"headline":"COLLECTING FROM AN LLC","datePublished":"2024-09-18T15:14:56+00:00","dateModified":"2024-10-23T18:05:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/"},"wordCount":548,"articleSection":["Bankruptcy &amp; Creditor Rights"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/","url":"https:\/\/www.racinelaw.net\/blog\/collecting-from-an-llc\/","name":"COLLECTING FROM AN LLC &#8212; Idaho Law Blog &#8212; September 18, 2024","isPartOf":{"@id":"https:\/\/www.racinelaw.net\/blog\/#website"},"datePublished":"2024-09-18T15:14:56+00:00","dateModified":"2024-10-23T18:05:16+00:00","author":{"@id":"https:\/\/www.racinelaw.net\/blog\/#\/schema\/person\/aa8aa04699b3ee65fb6e3d91aaa6b2bd"},"description":"By Stephen J. 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