LLC debt

[Anonymous]

Long story short my LLC ended up shutting down. Due to COVID the business was continuously losing money and I said enough was enough. I have one debt a gas card that is about $2200. I didn't sign a personal guarantee but am just wondering if they can come after me personally or report on my personal credit. I want to pay them but not sure if they will accept a payment plan or want it all now. That's why I'm asking I'm not trying to burn them it's my debt. Thanks 

[Anonymous]

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@Anonymous wrote:

Long story short my LLC ended up shutting down. Due to COVID the business was continuously losing money and I said enough was enough. I have one debt a gas card that is about $2200. I didn't sign a personal guarantee but am just wondering if they can come after me personally or report on my personal credit. I want to pay them but not sure if they will accept a payment plan or want it all now. That's why I'm asking I'm not trying to burn them it's my debt. Thanks 

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If the account wasn't PG'd, then they can't come after you and can't put it on your personal credit.  They will persue you to the same extent that a creditor would for a personal debt, they will probably even threaten to "Pierce The Corporate Veil" but for $2200, its not going to happen.

[Anonymous]

thats the point of the LLC, it typically protects the owners/members, whatever they’re called in their respective state. But the particulars would depend on the state’s laws in which it was organized, but there wouldn’t be much point in organizing an LLC if it didn’t offer that protection, imho.

[Anonymous]

This what what I thought but just wanted to make sure. Thanks guys 

[Anonymous]

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@Anonymous wrote:

This what what I thought but just wanted to make sure. Thanks guys 

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@Anonymous yeah the specifics may vary a little bit by state, for instance in Florida, the only creditor remedy is a charging order against the LLC while the member owners are personally protected, IIRC. You would have to read the statutes or consult counsel for specifics, we can't give legal advice obviously.