AllExperts > Collections Law 
Search      
Collections Law
Volunteer
Answers to thousands of questions
 Home · More Collections Law Questions · Answer Library  · Encyclopedia ·
More Collections Law Answers
Question Library

Ask a question about Collections Law
Volunteer
Experts of the Month
Expert Login

Awards

About Us
Tell friends
Link to Us
Disclaimer

 
 
 
 
About Kathleen Eads
Expertise
Having spent almost a decade with a Commercial Collection agency, Kathleen can answer questions related to collections~calls, motivating debtors to pay, skip-tracing. She now works for National Skip Trace Network (NSTN), providing premier technological Directory Assistance to the collections (www.nstn.net) industry via the internet.

Experience

Past/Present clients
Travelers Insurance, Nationwide Insurance, CNA Insurance, USF & G, Liberty Mutual, ACS, Asst Acceptance, Pinnacle, Penncro, Superior Asset Mgmt, PRM, Collins Financial, CBE Group

 
   

You are here:  Experts > Business > Corporate Law > Collections Law > Can a creditor freeze my business account?

Collections Law - Can a creditor freeze my business account?


Expert: Kathleen Eads - 10/24/2007

Question
Hi:
  I have a court appearance next week with a law firm suing me for a $500 business credit card bebt with Capital One. That particular business as listed on the credit card has dissolved, even though I am personally being sued. If a judgement is issued, is my new business bank account at risk to be frozen?
Thanks

Answer
Was the business incorporated or a sole proprietorship?  It will make a difference as to whether or not they are suing an entity or a person individually liable.  

If you are individually liable, ANY assets in your name are fair game if the courts award judgment.  They would have to get a judgment and writ of garnishment from the court before they can touch anything (if your state allows bank garns!)

Hope this helps,
Kathleen Eads

Add to this Answer   Ask a Question


 
User Agreement | Privacy Policy | Kids' Privacy Policy | Help
Copyright  © 2008 About, Inc. AllExperts, AllExperts.com, and About.com are registered trademarks of About, Inc. All rights reserved.