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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 118237
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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If I'm currently paying the SEC for civil action and having

Customer Question

If I'm currently paying the SEC for civil action and having trouble keeping up with the payments due date and they tell me if I don't make another payment soon or they will turn it over to the treasury dept. what happens to me?
JA: Because laws vary from state to state, can you tell me where the company is registered?
Customer: Texas
JA: Has anything been filed or reported?
Customer: Yes we settled the case in the SEC office and they fined me 733,000.00 for disgorgement as well as money to be returned to clients. I do not dispute the claim but we are having trouble keeping up with on time payments
JA: Anything else you want the lawyer to know before I connect you?
Customer: I just want to know what the treasury dept will do to me
Submitted: 4 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 4 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If they turn this over to treasury department, then they will pursue a garnishment and seizure action against you where they will seek to take your tax returns, seize your bank accounts in your name and also seek to seize any property you own in your name and take that towards satisfying the debt. You would not typically go to jail for not paying the debt, unless it is restitution as part of a criminal case, which you did not say this was.
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