Merchant Accounts Today

My company is being sued for a large amount of money. Even though I am working with attorneys I’m having a hard time understanding how this whole judgement thing works. It appears my company ONLY will be sued according to threats from the collector and a copy of the suit. Also, I signed no personal guarantee. Even if they do sue me, I’ve been told by at least one attorney that I could fight that on grounds of being wrong or incorrect. At any rate, I want to know what the REAL process of collection is like in the worst case. Say they get a judgement against my company. Small business. I have no assets other than a corporate checking and a merchant account. I have some other savings that have been in my name personally for a long time and unfortunately haven’t been added to in years. Bottom line, what and how can these guys go after my only money to my name? Can they take my house? Can they somehow freeze my checking accounts? Wages aren’t an issue since I’m self-employed. Thanks .
Forgot to add there is rarely much money in the checking and merchant accounts as I wind up spending MOST of everything I make in business expenses and my basic living expenses (mortgage, etc.) I KNOW I don’t do perfect accounting but my biz is fairly new and I seriously doubt any small biz corporation could do it any other way in order to make a living.

Lanelle