Can Business Account Be Levied if I'm Only on the Account As a Signer
My question involves collection proceedings in the State of: California.
I have a credit card account that has not gone to judgement yet. I also am on a business bank account w/ my dad as a signer, (i can sign checks etc.). I spoke with the bank to ask if his business account was susceptible to levies due to my personal debts. The bank said no, because he is the owner and a sole proprietor of the business. Can some one please confirm this? I don't want the business account to be effected by my bad decisions.
Re: Can Business Account Be Levied if I'm Only on the Account As a Signer
An authorized signer does not have personal rights to the money in an account - they're simply authorized to sign checks.
Creditors can only go after your money, so dad should be safe unless you're trying to hide money in his account.