are business checking account credit lines affected by a levy

[rancidd]

Hello Everyone,

Wanted to know if the credit line attached to my business checking can be levied too. I have a 10,000 dollar credit line that i have been paying off, it was maxed out before. That's why it was never closed. Right now i have 1 judgement against me, and another any day now. I know they will try to levy this account.

My goal is to only keep a few hundred dollars in there at any time. WHen a check comes through, the bank will use the credit line to pay anything over the balance in my account. Then when i deposit more checks, i will use them to pay down the credit line. That way most of my money will be protected.

I need this account to deposit checks to my business. I can open another account, but i'm afraid they will find it too?

I need to by time do pay for a bk13 or bk7? With a business as a sole proprietor i might be screwed?

Thanks

[AngelinaCatHub]

If you were a corporation, you would be better protected. Sole proprietor is really like your own account. Keep it VERY low. If you get payments in my opinion, I would personally take it to the bank and deposit and payment made directly with no float time in the account. In other words, pay the account directly towards the credit or simply cash the check for cash in hand. 'Hub

[MSbklawyer]

Levy a line of credit? Is that what you're asking? If so, then no, only an asset can be levied. A creditor can't pay itself by putting you into debt to someone else.

[rancidd]

Thanks, for the feed back!

I'm just going to keep paying the credit line down a few thousand dollars at a time. I'm think if i pay to much off, they might decide to cut the credit line amount.