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
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!)
