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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I have been served a citation to discover assets. My personal

Resolved Question:

I have been served a citation to discover assets. My personal checking account has been frozen. My wife and I have a small business, s-corp, with a checking account with the same bank as the personal account. Can they freeze the business account?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 5 years ago.

cortrightlaw : Give me a minute to review your question and respond
cortrightlaw :

Do they have a judgment against you personally, and not the corporation?

Customer:

Personal. $23,000+ for a credit card.

Customer:

If I file bankruptcy, will this stop the court proceeding? Court date is 2/22/12. We owe over $80,000 in credit card debt and so anticipate more creditors actions.

cortrightlaw :

yes if you file bankruptcy it will put a temporary stop on the civil proceeding until you receive your discharge, then it will be permanently stopped.

cortrightlaw :

The corporate account should be safe since they do not have a judgment against the corporation.

Customer:

Can they get a judgment against the corp?

cortrightlaw :

Only if the corporation owed on the debt, then they would have to file a lawsuit against the corporation in order to get a judgment against the corporation.

Customer:

Thank you

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