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Can Business Account Be Levied if I'm Only on the Account As a Signer

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  • 10-03-2011, 02:46 PM
    dtownredwingsfan13
    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.
  • 10-04-2011, 04:46 PM
    Mr. Knowitall
    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.
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