Business Debt

fdcpa only protects consumer debt. since this debt was incurred by the business, the business or its owners/operators would be held liable, and NO the fdcpa would not protect you after that point.

I have credit card debits that were obtained in the business name. Of course I provided them with the Business tax id number and my own social security number. If the business still exists and my partner in not aware of these debits. I have been making payments from my own personal account. Would these be considered consumer debits. If I stop making payments, can the credit card company garnish the business bank account? Thanks for any help

Tony, if the credit cards were obtained in the name of the business and you personally guaranteed them (which is what it sounds like from your post), then both the business and you personally are responsible for the debt. It's kind of like when a husband and wife get a joint credit card, they are both individually responsible for the debt. The creditors would not be able to garnish the business bank account without a court order (unless you bank at the same bank as the credit account is with and then I think they CAN take their money directly from the bank account). However, if they sued the business and won, then they could request a garnishment.

Thanks, alias. My follow up would be, would credit card companies settle on business unsecured loans. I'm trying not to get the business involved since I used the loans for personal use. Would the CCC settle with me directly?

Creditors usually won't settle until you are several months behind in your payments. I think you said in another post that you had BOA and Cap1, right? I've read several posts on this forum about BOA being pretty easy to settle with, but from what I recall reading, Cap1 is pretty difficult. But again, you would really need to be several months behind in your payments, and in the meantime, the creditors will most likely call you personally and the business trying to collect. Since your partner isn't aware of the debts, that puts you in kind of a sticky situation. :(