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I have a judgement against me how does that affect my business bank account?
Anonymous1 views3 answers
The judgement is against me and it expires in 2012. Now I would like to operate a sole proprietorship with an assumed name and will be opening a bank account under that business name. I would like to know if the creditors can seize my business bank account or can come after my business. Thanks!
They could garnish that account because a d/b/a is a fiction. The account is really in your name "doing business as". If they sent a restraining notice to that bank they could freeze the account.
The account will be subject to seizure because the assumed name does not shield it. Have you considered an LLC or corporation for your business? At least with them you could have a bank account that would be outside the reach of your individual creditors.
Yes, just going into a business under a ficticious name does not shield your personal assets from your personal creditors. You still are the debtors and your debtor assets are in the ficticious business.
