How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110421
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

In short. Amex siezed my personal banl account for debt. Can

Resolved Question:

In short. Amex siezed my personal bank account for debt of 14k. Can they also seize my business account which is set up as a corporation which I am the President of?
Submitted: 7 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 7 years ago.
If this is a corporation, the creditor cannot seize the bank accounts of a business because you are an officer of the business. Additionally, you should find a consumer law attorney and seek to object to the seizure of the personal bank accounts and to prove the debts.

I hope you found my answer helpful, please click on the GREEN ACCEPT for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!

If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.

Customer: replied 7 years ago.

My concern is as you know, the bank is required to fill out a Questionare which the first question is "Does the judgment debtor have an interest in an account with any branch of your bank, under debtors name or under any trade name or in any association with other names?"


Doesn't that mean when the bank pullls my name, it will show I am solely on a business corp account and they will have to provide that?

Expert:  Law Educator, Esq. replied 7 years ago.
It would show, but if they try to seize the corporate account, since a corporation is a separate entity, then you would sue them for violations of the fair debt collection practices act.
Customer: replied 7 years ago.

True even if its an LLC, not a corp?


Thanks Paul and I will accept after that. You have let me sleep a little better.

Expert:  Law Educator, Esq. replied 7 years ago.
As long as you can prove the LLC is a legitmate business, since it is still a separate entity that can sue and be sued on its own, then they cannot stop it from operating. In order for them to get at the accounts they would have to pierce the corporate veil and prove the business is merely your alter ego that you are using to hide your money.
Customer: replied 7 years ago.
Its a 100% leg LLC that has been in busn over 2 yrs. I understand your verbage of the law after the fact. What I am trying to find out is if they can put a retaining order on the account (meaning I could fight it after they did it but I wanna make sure they wont do it)
Expert:  Law Educator, Esq. replied 7 years ago.
They can try to do so, and have tried in some instances, and when they do, they can be hit with some heafty lawsuits for intrefering with the operations of a business. There is no real way to "make sure they won't do it," and what happens if they do is going to court on a temporary restraiining order to get the siezure removed quickly.
Law Educator, Esq. and 2 other Business Law Specialists are ready to help you