Matt S asked:


Hello. I just received notification that I am being sued by my credit card company. I stopped paying on this card about a year ago and thought I would just wait a couple years and settle. For various reasons, bankruptcy is not a good choice for me. My question is if they get a judgement against me, I know they can garnish wages and seize property, but I own a business and have no real property of value. Can they touch my business is my main question? I don’t think they can make me sell the business but maybe they can put a judgement against it when I do sell down the road? Looking to get some insight here before I speak with and pay a lawyer. Thanks! The debt is about 16K by the way.
OK I guess more details are needed. The credit was my personal credit card, not a card against the business. The business is doing well and definitely making it. My main question is can they put a lein against the business, which I’m sure they can. But I don’t believe any judge can force me to sell my business since it is my livelyhood. So I’m thinking there will be a lein against the business which when I sell (if I ever do) they can collect. Is my thinking correct? Anyone experience in this? It is set up as a sole proprietorship.

Matt S asked:


Hello. I just received notification that I am being sued by my credit card company. I stopped paying on this card about a year ago and thought I would just wait a couple years and settle. For various reasons, bankruptcy is not a good choice for me. My question is if they get a judgement against me, I know they can garnish wages and seize property, but I own a business and have no real property of value. Can they touch my business is my main question? I don’t think they can make me sell the business but maybe they can put a judgement against it when I do sell down the road? Looking to get some insight here before I speak with and pay a lawyer. Thanks! The debt is about 16K by the way.

Followup:

OK I guess more details are needed. The credit was my personal credit card, not a card against the business. The business is doing well and definitely making it. My main question is can they put a lein against the business, which I’m sure they can. But I don’t believe any judge can force me to sell my business since it is my livelyhood. So I’m thinking there will be a lein against the business which when I sell (if I ever do) they can collect. Is my thinking correct? Anyone experience in this? It is set up as a sole proprietorship.

cvegas229 asked:


I moved to Maryland from NY about 2 years ago, little did I know FCNB was suing me for an old credit card debt I had. The debt is about 5 years old and sometime after 2 years (when I was broke) the letters and bills stopped now they are trying to seize my bank account (an old acct I even forgot I had!), this is the first time Ive heard from them in about 3 years is there anything I can do without having to get a lawyer. Also I tried to contact the collection agency but they will not talk to me unless I give them my employment info which I dont dare do I think they will try and garnish my wages. I can afford to pay the debt now but not all in one shot, anyone know what I can do?