My question involves collection proceedings in the State of: Arizona.
I defaulted on a car loan to lower my personal monthly expenditures. I don't have much money to my name at the moment.
I have an LLC account with almost no money but in the past I have mixed/personal funds/assets/expenditures in the LLC account.
I plan to start making money with this LLC very soon, will my creditors be able to take as much money from my LLC? Or only what I pay myself from the LLC?
A lot of the money in the LLC will be funds from sales (some that goes to subcontractors/employees some for operations expenses and some for profit).. Can they just take whatever they want? Im concerned that they will garnish the account and then I wont even be able to pay my subs/employees. How can I protect my LLC from getting touched by personal creditors?