LLC Protection for Members' Personal Debt in Mississippi
Related Ads  In Mississippi, like in most states, the general
rule is that the money or property of a Mississippi limited
liability company (“LLC”) cannot be taken by creditors to pay
off the personal debts or liabilities of the LLC’s owners. 
Example: John, Francis, and Kim form a Mississippi LLC to
operate their cotton broker business. John, a big spender, owes
$38,000 on his personal credit cards. When he doesn’t pay, the
accounts are turned over to a collection agency which obtains a
$38,000 court judgment against him. While the collection agency
can attempt to collect on the debt from John’s personal assets,
it cannot take money or property owned by the LLC. For example,
it cannot get any of the money held in the LLC’s bank account.
Even though creditors can’t collect directly from an LLC for an
owner’s personal debts, there are other ways creditors might try
to go after the LLC for the owner’s personal debt.  These
include:  1) obtaining a char