I have recently offered around $16,000 from business PayPal to settle a debt with an unsecured creditor they asked for proof of this amount offered so I sent them statements of the business PayPal account including balance. The Creditor refused settlement offer saying it was not enough over a $24,000 debt and now threatening to freeze the account.
Seeing though now they are threatening further legal proceedings I don't believe this creditor is being very fair as it will cost them more to go through courts and I have offered everything the company has. I now want to protect this money from creditors and am considering to use business account assets to liquidate PTY LTD company and for legal representation if needed.
Is there a way I can move funds out of PayPal to personal bank account so as to use them for legal fees if needed?
Seeing though now they are threatening further legal proceedings I don't believe this creditor is being very fair as it will cost them more to go through courts and I have offered everything the company has. I now want to protect this money from creditors and am considering to use business account assets to liquidate PTY LTD company and for legal representation if needed.
Is there a way I can move funds out of PayPal to personal bank account so as to use them for legal fees if needed?