If you do not want your money to be levied upon, it must be in a bank that does not do business in New Jersey

Often I am contacted by people subject to who had their bank account levied upon in New Jersey even though they do not live here or or do their banking here.  Most people have never considered that their accounts may be subject to levy at a bank branch different from where they bank.  It is a very common occurrence.  Recently, the Appellate Division upheld a concept that most lawyers always understood, but many non-lawyers did not: in order for a creditor or debt collector to get their hands on your money, all they have to do is identify one place in New Jersey where the bank operates – not the specific branch where you bank.  Nor does it matter if bank’s headquarters or account processing division is located in another state.  A New Jersey levy, served on a banking location in New Jersey, will be a valid levy even if the debtor is not in New Jersey. Triffin v Community Preschool  That is why if people are trying to negotiate with their creditors it is often to their advantage to bank through a small bank located outside New Jersey – like in Delaware and Pennsylvania – that does not do business in New Jersey.  Banking with a large bank like Bank of America means your money can be attached nearly anywhere in the country.  The more difficult it is to get your assets, the better the negotiating position you may have.  Of course, moving your money after judgement or with the intent to defraud someone may be a fraudulent transfer.

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