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Credit card arbitration and judgement

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Junior Member
What is the name of your state (only U.S. law)? Missouri

I'm an independent contractor. I incurred a $42,000.00 credit card debt trying to keep my business and home solvent during a tough stretch. Chase took it to arbitration and, of course, won. I tried to work out a repayment program but without a steady income, couldn't agree to their terms. Now a lawyer is getting a judgement against me in local county court.

This is in my name only. I'm also an LLC. Can they go after my wife's bank account that I'm not on? Can they do anything to my LLC account? Can they get liens on our home or other property that is jointly held?

If you are not on your wife's account, they will not be able to seize that account.

As to the LLC account, they can not seize it if it is properly set up (that is, the account was opened as a corporate account, only has the LLC's EIN, etc.).

However, the debtor can seize your membership interest in the LLC, and, once they control the LLC, can take control of all assets of the LLC.

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