CLOSING Bank Accounts Upon Filing

[simon2020]

Hi All --- Does anyone know if my bank accounts Wells Fargo, Bank of America will be closed or "put on hold" as soon as my attorney submits my petition to the Bankruptcy Courts?

I've read some threads here about how some checking accounts were frozen when ch 13 was filed.

If that is the case, how do I go about my daily living (mortgage, food, gasoline, paying other utilities, etc) if my money if frozen?

By the way, I am in California and my paycheck is a direct deposit once a month with Wells Fargo.

Thank you.

[Flamingo]

No one can say for sure what will occur with your accounts. When we filed, our checking account remained fine and we had included a VISA in our filing associated with the same bank and also a vehicle crammed into our Plan with the same bank. The bank did, however, cancel our overdraft line of credit which already had a zero balance anyway. But our checking account remained fine and we still have the same one today. If this really bothers you, close your checking account(s) and move them to a bank not associated with your filing.

[simon2020]

Flamingo No one can say for sure what will occur with your accounts. When we filed, our checking account remained fine and we had included a VISA in our filing associated with the same bank and also a vehicle crammed into our Plan with the same bank. The bank did, however, cancel our overdraft line of credit which already had a zero balance anyway. But our checking account remained fine and we still have the same one today. If this really bothers you, close your checking account(s) and move them to a bank not associated with your filing.

Thanks Flamingo --my main account for years for like 18 years is where I do all my banking - paying my mortgage, using my debit card for gas, groceries.

I opened a free Bank of America a month ago anticipating i will file in March 2009.

What did you mean "move my funds to a bank not associated with my filing?"

Are you saying I should NOT tell my attorney about my new BofA account so this bank is not in the petition? Please clarify. Thanks!

[relief13035]

No - means open an account at a bank that you won't be filing bk on.

My bank account was with BofA. We owed BofA over $10k when we filed - so we changed banks to avoid any unauthorized deductions from our account

[Flamingo]

If your present bank is included in your filing in any way, there is a chance it could affect your accounts associated with that bank. Many people prior to filing move their checking account to a bank not associated with any creditors listed in their bankruptcy filing. If the bank at which you have your checking account is not included in any way in your filing, you should be fine. This would apply to your long term bank or to the new account you just opened.

Nowhere in my posting did I tell you not to advise your attorney of any bank account. I responded directly to your question about your worry over filing and it ihaving an effect on your checking account. You advise your attorney of every single debt and account you have, checking account(s) included.

[simon2020]

thanks for the excellent advice Flamingo.

[atolar]

we had a bank of america credit card of $10,000 in our 13 and our checking account with them also, they didn't do ANYTHING to our checking or savings account.

[hgpotter]

we had a bank of america credit card of $10,000 in our 13 and our checking account with them also, they didn't do ANYTHING to our checking or savings account.

This is kind of reassuring. My attorney told me that I shouldn't need to worry about this either. I have a $4500 CC with BOA and checking is also with them. However, I did err on the side of caution and have opened a checking with a non BK bank. I am not closing my BOA account, though. If things go well I hope to remain a checking customer with them.

AC