I'm behind on my car payments. I don't keep any money in my personal account but in my corporate business account I do. It is not associated with my social security number but with my corp tax ID. Can they attach this account like they could a personal account? Thanks for the help
Your your SS # is definitely reflected somewhere in the bank's paperwork when the corporate nusiness account was opened - mandated by the Patriot Act. But I have a hunch that creditors must jump through more legal hoops to rob you of funds in a business account.
I know they can't look up my account number by my ss# but you're right, they probably have my ss# somewhere in my file.
My understanding is that very few people would have a claim against your business assets for a personal debt and vice-versa (depending on the state and legal type of business). The few exceptions would be the government, they can, of course, seize any funds for a debt that you owe someone like the IRS. You just have to be careful though about how you handle and seperate your business versus personal assets and debts. If you co-mingle them or don't keep good records you may get into trouble.
