Legal Question in Banking Law in Texas

if I open a business account at a bank in the name of my business, can the I.R.S or the attorney general freeze or take over my account because i owe back child support and or school loans.the child support is been paying on the school loans are 5 to 7years old. I live in Tyler, Tx

Asked on 3/13/14, 1:01 pm

1 Answer from Attorneys

Mark Dunn Mark D. Dunn

Here's what will make all the difference in the world: your social security number.

Chances are that when you opened the account, you gave the bank your social security number. That's what the child support collection folks (and the student loan folks) focus on: not the name on the account (they don't care) - it's the social security numbers of the people who have access.

There's a program called "Financial Information Data Match" whereby the State of Texas knows about everybody's bank accounts.

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Answered on 3/22/14, 8:11 am

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