Money issues

by Frank
(Long island Ny )

I owe back taxes and I am currently on a payment plan with the federal IRS and the state IRS, I also owe about $50000 in unsecured debt that I haven't made any payments on in a year and a half maybe even two years on some. My question is can the credit companies that I owe money to freeze my personal checking account even though I am paying back the taxes I owe.

Comments for Money issues

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Jun 28, 2011
Money Issues

What the credit card companies decide to do about the money you owe to them has nothing to do with whether or not you are paying your back taxes. Those are two separate matters. Also, before the credit card companies can try to seize money in your bank account or take some other actions to collect from you, they must sue you and win court judgments against you.

Given your financial situation, I strongly encourage you to meet with a bankruptcy attorney to find out if filing for bankruptcy is a good alternative for you. I am not an attorney so I don't know if bankruptcy can help you with your tax debt, but you would certainly get some relief from your credit card debt. Click here for a free consultation with a bankruptcy attorney.

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