AboutOntrack Financial Group llc Expertise With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority.
In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitute and aptitude to truly assist our clients. Ontrack Financial Group llc is that company!
With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process.
Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint.
Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.
Experience Please read about us at Https://www.OntrackFinancialGroup.com/Q&A.html
Question QUESTION: I received a pay cut back in 2006 (in order to keep my job) and my husband was laid off in 11/2007. He did not find another job until 3/2008. Over the past 3 years or so, we've lost approx. 35% of our gross income, as a result we were forced to rely on credit cards and cash advances. We now have over 100K in credit card debt.
I stopped paying my credit card bills over 60 days ago, and I was recently promoted to accounting manager at my job, and as a result, was added as an authorized signer on the business acct.
I would like to know if creditors can go after a business account that does not belong to me just because I am an authorized signer? If so, what rights do I have? what can I do to prevent this from happening? I don't want to file for bankruptcy.
Please advise.
ANSWER: Dear Felicia,
Thank you for your question.
Being a authorized signer doesn't give you full account holder rights. Meaning you can sign for purchases as an authorized user. If you were placed on the card as a comaker, then you're liable for the debt on the company credit card that you purchased.
However in both circumstances creditors can not go after the business account for personal liabilities, unless you're the personal guarantor.
What's your game plan on the credit card debt that's currently behind?
The 60 day mark begins the first communication from third party debt collectors. What's your game plan?
Ontrack Financial Group llc
Https://www.OntrackFinancialGroup.com
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QUESTION: I'm sorry, I may not have explained myself correctly. The acct. that I am most concerned about is a business bank (checking) acct. I was recently promoted to accounting mgr. and I now have signing rights on the business bank account. The bank added by social security to the account due to my being a signer, however, I have NO ownership of the account, nor do have I any stake in the company (I am not an officer of any kind) I merely work there. If creditors perform a search with my social security number I would imagine that this account would somehow show up. Can they go after my job's bank account because I'm listed as an authorized signer? Can a creditor (personal debt) place a levy on this account, because they think that I may have some ownership of this acct? I live in Florida by the way. Any info that you can provide would be much appreciated.
Answer Dear Felicia,
Thank you for your question.
Generally this type of account can't be levied by a personal creditor. However devious debt collectors or their attorneys may make an attempt, and succeed. If they do, there's a process you can use to remove the levy.
