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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 116755
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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In short. Amex siezed my personal banl account for debt. Can

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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: 8 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 8 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.

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Customer: replied 8 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 8 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 8 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 8 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 8 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 8 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.
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