If your debtor has interests in a business — such as a partnership or limited liability company (LLC) — a charging order may make it easier to collect what you are owed. While you can’t seize assets from the business, you can get a legal order requiring the LLC or partnership to pay you instead of the debtor. Like a wage garnishment, a charging order redirects money owed to the debtor by the LLC or partnership to you. For example, if your debtor owns a partnership interest in a business, and that business makes monetary distributions to the partners, a charging order will require the business to pay you instead of your debtor. If the business disregards the charging order and pays your debtor, it is now on the hook for the debt.
Collect The Money You Are Owed
As a creditor, a charging order gives you the upper hand. In addition to collecting payments, a charging order places a lien on the business. As lien holder, you can foreclose, potentially even dissolving the LLC or partnership.
Stop Chasing Debtors — Call 310-278-8600
Is your debtor giving you the run-around, refusing to pay up? At Joshua P. Friedman & Associates, Inc., we don’t play games. We get results. Attorney Joshua Friedman will pursue every available avenue of payment — including charging orders — until he gets you the money you are owed.
Our Los Angeles firm practices solely in the area of debt collection. We aren’t afraid of a fight. Our team uses time-tested, strategic and aggressive tactics that get our clients what they want most: repayment of the debts they are owed. Contact us online or call 310-278-8600 to begin the debt collection process.