It can be done, but it is intentionally difficult.
Where I live the Lender, (in this case a debt collector) can sue, get a judgement, take that judgement to a "Bailiff" who is a government employee. The bailiff will charge a fee, follow a process and at the end of that process may see and seize a certain percentage, in some cases 100%, of any bank account found.
This process is involved and expensive on purpose. The idea is to prevent nuisance and abusive use of the system
In a civil case and once a judgement is issued against you, any assets, including bank accounts, you have may be repossessed by the sheriff's department during the course of enforcing that order.
Any assets you have such as property, automobiles, bank accounts or wages.
They can go after almost any assets of the debtor, including his accounts receivable. Which is all the "non-employee compensation" as you put it is. Accounts receivable for his services rendered...like any other billing of a business.
It depends on the details. If the business was incorporated and the judgment was against the corporation the creditor can only take business property and assets. If you owned the business as individuals then a judgment creditor can take any of your assets to satisfy the judgment: bank accounts, vehicles, boats, equipment, real property, etc.
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Each state has different laws on what assets can be protected from judgment creditors.
Yes. Any assets not specifically devised will pass under the residuary clause as well as any assets that come into the estate after the death of the testator such as a judgment award.
Current assets
Accounts receivables is a liquid asset
The judgment holder will have to enforce the judgment. He/she will get leave of court to conduct a citation to discover assets, where they will grill the bank account holder on his/her assets. At some point down the line, the court can freeze the assets or order them turned over.
Accounts receivable shown in balance sheet at assets side under current assets section.