Legal question - GoFuckYourself.com

johnnyloadproductions · 08-21-2011, 01:55 PM

I'm dissolving an LLC from Illinois because I don't live there anymore. I'm assuming I can dissolve the old LLC and all contracts and legal bindings die with it? Meaning if somebody has a debt owed in the old LLC it is dissolved along with it?

Sly · 08-21-2011, 01:59 PM

I can't imagine it would be that simple to eliminate debts.

L-Pink · 08-21-2011, 02:02 PM

Nope, what can happen is any contracts or outstanding obligations on your corp's part could now become your liability. You have lost the legal umbrella between you and corp acquired liability.

As far as assets that's a different subject.

.

johnnyloadproductions · 08-21-2011, 02:23 PM

Quote:

Originally Posted by L-Pink

Nope, what can happen is any contracts or outstanding obligations on your corp's part could now become your liability. You have lost the legal umbrella between you and corp acquired liability.

As far as assets that's a different subject.
.

The only debt was with my actor, who doesn't want anyone to know he did porn. It's not a huge debt, just $440. But it still upsets me a little as he was a pain in the ass and actually cost me money in cancellations and just through man hours. Blackmail would most certainly work in this situation. LOL.
I was still planning on paying it. Anyway...

V_RocKs · 08-21-2011, 02:42 PM

In that case dissolve it. It is highly unlikely the guy has the means to sue you anyway.

08-21-2011, 01:55 PM	#1
johnnyloadproductions Account Shutdown Industry Role: Join Date: Oct 2008 Location: Gone Posts: 3,611	Legal question I'm dissolving an LLC from Illinois because I don't live there anymore. I'm assuming I can dissolve the old LLC and all contracts and legal bindings die with it? Meaning if somebody has a debt owed in the old LLC it is dissolved along with it?

08-21-2011, 01:59 PM	#2
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,318	I can't imagine it would be that simple to eliminate debts. __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Windows VPS now available - 3 months free for GFY members - 3 slots available Great for TSS, Nifty Stats, remote work, virtual assistants, etc. Click here for more details.

08-21-2011, 02:02 PM	#3
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	Nope, what can happen is any contracts or outstanding obligations on your corp's part could now become your liability. You have lost the legal umbrella between you and corp acquired liability. As far as assets that's a different subject. .

08-21-2011, 02:42 PM	#5
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,406	In that case dissolve it. It is highly unlikely the guy has the means to sue you anyway.