Someone seized my personal account for an outstanding debt. Can they go after my business account that also has my wife on it?
If the business account is in your name, as a sole proprietorship, it's as accessible as your personal account. If, however, the account is held by an LLC, corporation or other entity, it would not be accessible to a collector of your personal debts.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If the business account is in your name, as a sole proprietorship, it's as accessible as your personal account. If, however, the account is held by an LLC, corporation or other entity, it would not be accessible to a collector of your personal debts.
