Out of State Bank Account

[jaytee716]

What is the name of your state? New York

During college I ran up quite a bit of debt and am now working on repayment. Two of my past creditors have judgements against me. I was advised to make repayment to the creditors who have not yet attempted to get a judgement, and to move my bank accounts to a bank that does not operate in New York State so that they cannot be seized by the judgements already processed.

Is it true that bank accounts cannot be seized if they are not located in the same state in which a judgement was ordered?

Thanks.

 

[racer72]

Only if the bank is not licensed to do business in your state. Even then, it would be very easy to domesticate the judgment in the other state based on the location of the assets. Plus you could be held liable for the added expense of tracking down your assets.