Hi,
I own a Sole Proprietorship in a very small volume business and have a business account with Wells Fargo and a personal (my Name only ) CC with them as well. Times are tight and they keep asking for payment and mention funds in the Business account and can see some resources but not much at this time. Can they close, garnish my Sole P business account to pay a monthly payment or pay down the 9900.00 owed? At this time about 45 days late.

Thank you.

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Originally Posted by MRice54

Can they close, garnish my Sole P business

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Hello Mr:

It depends on your agreement with the bank, but in the ordinary course of events, they'll need to SUE you first. But, once they have a judgment, they'll TAKE what they want.

excon

Thank you Excon, Will consult with legal shortly for a total summary of what to do with business in this year.

Best Regards,