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O/T Writ In Execution of Levy

Journey1982's picture

Submitted by Journey1982 on Sun, 12/28/2014 - 9:37pm

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Does anyone know what "writ in execution of levy" means when it pertains to a business? I've looked up what this is, but the meaning seems to pertain to a person and I am trying to find out what it means if it is against a company?

If a writ in execution of levy is filed against a business, and the business closed it doors 4 years ago, can the levy be placed against the owner of the company?

Journey1982's picture

Submitted by Journey1982 on Sun, 12/28/2014 - 10:44pm

Thank you Echo. My SO is the one who owned the business that closed 4 years ago. I was worried that the levy could be placed against him personally. When I read what a writ to execution of levy was, I was scared out of my mind.

When the economy tanked, he tried to stay afloat, but he was never able to recover and closed his doors. He was able to pay off most of his debts, but one remained unpaid and he had no more money to pay this business debt. He has no assets left because he sold everything he could to make sure his debts were paid - as much as possible.

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Cocoa's picture

Submitted by Cocoa on Mon, 12/29/2014 - 4:45am

I have an LLC and when I applied for credit, I had to be personally responsible for it. Did he sign such documents?

Journey1982's picture

Submitted by Journey1982 on Mon, 12/29/2014 - 5:14am

From what I can tell based on our conversation, no he did not sign any such document. He told me this company could not go after him personally because he didn't sign some kind of document (can't remember what he called it) that would make him personally liable for this particular debt.

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