Do you have a subscription service with us, and want to cancel?
We do not lock you into a contract, so all services with L4SB can be terminated by you at any time.
We have removed the “cancel subscription” button from our website, because so many clients of ours end up cancelling a service without realizing the implications.
We’re not going to take 20 minutes of your time to try and sell you a different service. But, it’s critical you understand the implications of cancelling a service with us — and that you need to make sure you either have an adequate replacement, or that you take the appropriate steps to close down your company to prevent future legal liability.
How to Cancel
Want to cancel everything, because you’re not doing anything with your company any more? Then dissolve the company (order now). If you order a dissolution service with us, we’ll cancel your subscriptions as part of the service (although please read about Registered Agent service below).
Or, simply call us at 505-715-5700 to cancel without closing your company.
What are the Issues?
If you cancel a service from us, like the registered agent service, we will resign. This means your company could be administratively dissolved or put into “not good standing” with the state where registered. You need to either assign a new Registered Agent, or properly close down your company. Otherwise, continuing to do business means you are actually doing business personally (not under the liability protection of a corporate entity), and can be personally liable for the debts, obligations and liabilities of the company.
If you close your company, and also cancel the Registered Agent service, this doesn’t mean unscrupulous attorneys cannot still sue the LLC. We’ve seen this actually happen to people — an attorney still sues the LLC, closed down years earlier, and the attorney ends up with a default judgement that they can then enforce against the individual owners.
Because default judgements are very difficult (or impossible) to overturn, you definitely don’t want to find yourself in this situation.
This is why we recommend maintaining your Registered Agent service (even with a closed / dissolved company) for up to the statute of limitations for written contracts in the state where formed (or registered, so this applies to foreign companies too). In New Mexico (and many states), that is 6 years. This way, if some unscrupulous attorney or plaintiff tries to sue you or the LLC years after you close it, you’ll find out about the lawsuit and can take defensive action.