Can the credit card company attach to my business, personal property?

civil suit credit card debt in texas. if the judgement is in the favor of the creditor, can the court order a lien on my business (which is failing due to my illnesses over the last few years)? I live in a rented building where I run a flea market on the weekends. for all intents and purposes the business has been closed since Christmas. I am thinking of making it official, will this stop any such lein on my inventory and personal belongings which are in the shop? Please someone answer asap! I am to answer the questions on the %26quot;plaintiffs original petition and first requests for admissions%26quot; to the county court by 9am tomorow, 2/25/08. thank you in advance for your time and quidance.

Can the credit card company attach to my business, personal property?

file for bankruptcy! that will stop anyone from attaching to anything you have. They can attach, but only after all your secured creditors have attached and get their share (mortgage company, cars, etc..). Usually, if you%26#039;re having that much financial trouble, they may not get anything. Credit cards are generally unsecured creditors.

Can the credit card company attach to my business, personal property?

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Can the credit card company attach to my business, personal property?

A true business credit card is a line of credit that is taken in the name of the business, under the business%26#039; credit. Activity, whether good or bad, is reflected on your business%26#039; credit report through D%26amp;B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

However, some companies out there offer %26quot;business%26quot; credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business%26#039; credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for %26quot;strong business credit%26quot; (just like that in quotes) to find services that sell the information.

Good luck,

Ilya Bodner

Small Business Owner

Initial Underwriting Group