Legal Question in Banking Law in California

Re: collections

Theoretically a judgment creditor could find an out of state bank account, file for a "sister state judgment," and levy on it in the other state. But this is easier said than done, it involves time and effort on the part of the judgment creditor. There are all kinds of places to put your money or assets with varying degrees of protection ranging from your mattress, to rare coins, to stock brokerage accounts to numbered Swiss bank accounts and offshore trusts and other complicated shell games. Of these, your mattress is the least vulnerable to judgment creditors (but your East Village apt could always be burgled). You could google for "asset protection" and see what you come up with. A "fraudulent transfer" of assets after a judgment is rendered is a no-no.