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