Can collection agency go after my business accounts?

Discussion in 'Credit Talk' started by Joe Green, Feb 14, 2007.

  1. Joe Green

    Joe Green Member

    Can a collection agency that won a lawsuit against me go after my business assets such as garnishing my business checking account? Can they freeze that account? If so, then how am I supposed to conduct and run my business without the flow of money coming in and going out on a daily basis because they have control of the account? How much can they take out each day? I have no personal accounts for them to go after. All I own is a business account.
     
  2. ontrack

    ontrack Well-Known Member

    Is the debt a personal debt?
    Is the business a corporation, and is its bank account in the name of the corporation?
     
  3. Joe Green

    Joe Green Member

    My debts are personal.

    The business is just a simple assumed name (DBA).

    The bank account is under the DBA name.
     
  4. ontrack

    ontrack Well-Known Member

    If it is a sole proprietorship, they probably can.

    Note: I am NOT an attorney.
     
  5. collectman

    collectman Well-Known Member

    yes they can go after your business account unless it's an LLC or similiar
     

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