Linking bank accounts

[VirginiaGuy]

Okay, a logistical question.

Let's say I have two bank accounts.

Bank 1 is an account that my creditors know about. It is present in my state and if they get a judgment here it would be easy for them to put a lien on it.

Bank 2 is an account that I'm opening. It is out of state. No one knows about it.

If I link the accounts and transfer my funds from Bank 1 to Bank 2, is there any way that the creditors who know about Bank 1 can find out about Bank 2? I know that they could technically subpoena my bank activity to find out about it, but that's not what I'm talking about. I mean, technically they could make me disclose all my assets under oath so if they're going to go that route, they will find out about it in the long run. What I want to know is whether the creditor will be able to easily find out about it and sneak up on me with a levy the way they could if I were just using Bank 1.

If anyone has experience in this area please let me know.

[treehugger1]

You seem to be posting your query under a different thread but with near identical concerns.

In my opinion, dump all past bank accounts and set up new accounts with new banks. In the end, you could get a summons for a debtor examination and have to answer truthfully about your connection to any and all financial institutions. Until such a scenario occurs, set up new accounts. Yes, an online bank account with a bank that is located god-knows-where seems reasonable.

You seem afraid to give up your current bank. Why?

And, always remember nothing is foolproof.

[VirginiaGuy]

Those are all good points. I am trying to get approved for an online bank right now actually. Hopefully they will only look at Chexsystems, where I'm good to go, and not actually do a credit check. I declined overdraft protection so maybe that will help.

[Pandora]

I agree - you've asked this same question several times just different ways. Is there some particular reason other than you are worried about being garnished? If you're that worried about banking and having things taken, then just pay with cash, money order or pre-paid debit cards.

Seems to me if you keep trying to buck the system, someone is going to finally catch up with you and possibly get you for fraud if you keep trying to hide assets; which it appears you are in my view of reading your posts. Remember, what you may get away with today will eventually catch up with you tomorrow ;).

Again, if you're that concerned, then pay via other methods or simply go to the bank that wrote the check and cash it, if at all possible. There are also places that cash pay day checks for a fee - then you can roll that $ onto a pre-paid or whatever.

[frogger]

Bank 2 is an account that I'm opening. It is out of state. No one knows about it.

Yet..........