Legal Question in Credit and Debt Law in Florida

I live in Florida and have 2 business credit cards with capital one bank. The business has now been dissolved and I have not made any payments since Jan 09 and the bank has now charged off the account and the collection agency is threating possible legal action. What are the possibilities they could do.

I own 3 cars two of which has loans and 1 boat and 2 jet skis. I also have 2 other investment properties well under water and currently in mortgage default since jan 09 all in my name only. My wife and I have one primary residence under default has well and one investment home that is current. My wife was a vice president and I was the president in the corporation.

Here are my questions.

1. Can the courts give right to the creditior to go after our jointly investment property?

2. Can the courts take away our house we reside at?

3. Can the courts give the right to take away our vechiles and boat?

4. Can they garnish my wages and income tax return?

5. Last question: Can I file for Bankruptcy now that when I am summons?

please email me the response to [email protected]

Thank you for your response

1 Answer from Attorneys

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