Bank Employee Question

[Bit_Image]

I am thinking of filling soon, but I work for a mid sized Bank doing IT work. I have a auto loan with this bank that I want to reaffirm and a CC with a 2K balance that I would also like to keep. My question is, can I keep paying on this CC after I file? Can I reaffirm a CC? I really dont want to upset my employer, as I have a good job.

[CATCHMEIFYOUCAN]

Does your employer actually OWN the Bank, does it affect his personal life? HIS INCOME? If you get discharged, they say you can pretty much do what you want after discharge, if you want to reaffirm your debts with the creditor(s). The choice is yours, but why bother filing for Bk and get your debt wiped clean only to reaffirm with them? (The Car I understand), the credit card, hmmm. You will still have the Bk on your report for the next 10 years, reaffirming the credit won't improve your score any quicker. I used to work for a BIG BANK, and was worried about my status with them, but quiet frankly it was nobody's business, not even my boss's (she didn't personally own the bank, you know).

Best of Luck, just my 2 cents .. Catchmeifyoucan

[lrprn]

My question is, can I keep paying on this CC after I file? Can I reaffirm a CC?

No and no. The vast majority of credit card companies will cancel your card after you file anyway. And the bk law requires you to list ALL debts. You don't get to pick and choose, so you have to list it. (If by some miracle this card does survive your bankruptcy, then after your bankruptcy case is discharged and closed you can choose to pay back anyone you want, including a credit card - that's your choice. But I don't think anyone here would recommend that.)

One more thing....if your checking and/or savings account is in this same bank, then you have another worry. Most bank and credit union accounts have a cross-collateralization clause in the agreements you sign that allows the bank/credit union to take money from one of your accounts without authorization to pay on other accounts you have with the bank.

I would start looking for another bank to open a checking account before you file. Leave the original account open with $5 in it. If you have a savings account, do the same thing. Otherwise you may wake up one morning right after you file and find what you owed on your credit card gone out of your account. And it's legal for the bank to do it.

[CATCHMEIFYOUCAN]

It happened to me

One more thing....if your checking and/or savings account is in this same bank, then you have another worry. Most bank and credit union accounts have a cross-collateralization clause in the agreements you sign that allows the bank/credit union to take money from one of your accounts without authorization to pay on other accounts you have with the bank.

I would start looking for another bank to open a checking account before you file. Leave the original account open with $5 in it. If you have a savings account, do the same thing. Otherwise you may wake up one morning right after you file and find what you owed on your credit card gone out of your account. And it's legal for the bank to do it.

I had a checking and a savings account at the same bank I owed credit cards on and a consolidation loan. If it hadn't been for this rip off debt consolidation program my dumb butt joined before doing my research I would have never known about closing these accounts prior to filing Bk. They told me leave as little money in them as possible (because the credit union would not allow me to actually close these accounts because I still owed money). So luckily I changed my direct deposits (opened up a new checking account with a different bank and only left the required amount ($5) in the other bank. Sure enough when I dumped the program and decided to file Bk instead, I accidently had left $10 in one account and one of the credit unions pulled the "cross collateral card," on me and took $5 and applied to one of the credit cards I owed on! SHREWWW.

Best of Luck, CMIYC

[Bit_Image]

Okay, but can my bank habor ill will towards me and eventually fire me? I am very worried that I could loose my job over BK.

[CATCHMEIFYOUCAN]

By law you cannot get fired because of Bankruptcy. Just by law you cannot be rejected of a job because of Bankruptcy. However they could always find another excuse to cover the real reason why they are letting you go OR the real reason why you were not chosen for the job. I know when I filed Bankruptcy, I had 2 full time jobs. I eventually had to quit one job, in order to convert my case from a 13 to a 7. After I quit someone told me that the company would let you go if you had like 2 or more garnishments on your check! Depending on what state you are in, some garnishments aren't even allowed!

Best of Luck, CMIYC

[JollyGG]

We had barely gotten our discharge when my husband applied for a job in IT at a credit card company/bank. They checked his credit and initially didn't offer him the position. However once the issue was brought up by them he explained the situation and got the job anyway.

[Bit_Image]

I owe 3K in CC debt to the same bank in which I am employed. Not only am I concerned that I will leave a bad mark, I am worried that they may think I am taking advantage of them.

[lrprn]

I owe 3K in CC debt to the same bank in which I am employed. Not only am I concerned that I will leave a bad mark, I am worried that they may think I am taking advantage of them.

You aren't "taking advantage" of this bank. Filing bankruptcy is a right guaranteed by law. It's been in existence since the Founding Fathers wrote our Constitution. But I do understand your concern - banks are very protective of their money (although $3K to a bank is a drop in the bucket).

Yes, it would be very sad if your bank decided to let you go simply because you filed bankruptcy, but they will have to find another reason besides bankruptcy - as CMIYC already said, it's against the law to fire someone just because they filed. You could offer to make a private hand-shake agreement with your bank to pay the money back after your case closes, but again, only you can decide if this is the right thing to do in your situation. I'd be tempted to hang on to see what happens after I file before making any assumptions about what's going to happen and end up paying back $3,000 I might not have to pay back.