2006-06-29 15:37:21 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It also means that you owe someone else money. If you have a customer and you did a crappy job on something, they can place a lein on your business until the job gets done right or you pay them the amount of the lein. Are you an LLC? LLC's can protect you from leins based on what type of company you are. Good luck!
2006-06-29 15:45:17 · answer #1 · answered by ebay_convert 5 · 1⤊ 0⤋
You still owe them money...if you make attempts to sell your company you will be forced to pay them (lien holder) through your proceeds. If your company isn't making any money perhaps you should seek advice from an attorney as to what options you may have. Bankruptcy may help but will probably not get rid of the lien.
2006-06-29 23:00:56 · answer #2 · answered by gmommy 3 · 0⤊ 0⤋
That is called a lien. This means that you haven't paid your credit card bills for over 3 months. Not to pay your bills is stupid and a foolish way to run a business. This also means that they can ask your bank to pay them from any assets that you have. Tough luck.
2006-06-29 22:40:45 · answer #3 · answered by rb_cubed 6 · 0⤊ 0⤋
A lien on your business (or other property) means that you owe them money, and if you sell the business they get paid before you do.
Best wishes and God bless.
2006-06-29 22:39:55 · answer #4 · answered by bobhayes 4 · 0⤊ 0⤋
It means you're screwed.
2006-06-29 22:41:40 · answer #5 · answered by Nate 4 · 0⤊ 0⤋