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Right of Offset

Answered by: 
Andy Zavoina

Question: 
What is our right to offset a delinquent personal loan with a DBA deposit account bearing the same social security number?
Answer: 

Look to state laws. I see the question being who are the account owners. If the DBA is a sole proprietorship, the same as the personal account, you are in fairly clear territory. If the business is other than that, you are in a gray area.

First published on BankersOnline.com 11/3/03

First published on 11/03/2003

Filed under: 
Lending
Security
Filed under lending as: 
DBA
Right of Offset
Security
Social Security
Sole Proprietorship
Filed under security as: 
DBA
Right of Offset
Security
Social Security
Sole Proprietorship

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