My life is on hold

[queenfluff]

The day you file....


I think you'll be okay, unless you have autopay haha. No usually banks don't go after accounts until you're like 2 payments behind.


Once you file the stay will protect you. So no hurry to close account. What I would do right now is go and open a new account before you file this Friday, cause then it won't matter if you're in BK or not. Just look around and find a decent credit union since they don't charge a lot of fees. Some offer free online banking and bill pay etc. Just pick one that isn't included in your BK.

Well he probably didn't say anything since you were current and by the time you were late you'd be protected by the stay. But yes most attorneys advise their clients to switch banks if you are including them in BK. Chase may limit you account access ...like take away online banking etc....

thanks again chad!

No no autopay - I always hated autopay so I never set any up. I have someone on another thread saying to get my money out of Chase ASAP saying that they may be able to take money out of my account. So I am getting conflicting advice on the forum but I would think that my lawyer would tell me if I really needed to do this. I don't want to screw up the case by doing something he didn't tell me to do esp since I haven't had my 341 yet. So I am going to wait a bit to close the Chase. I think I am going to take out some money to open a new account somewhere else. Than every other week slowly take more money out to look like I am spending it on food etc. I don't want it to look like I am hiding all my money from Chase - obviously, they can look at my activity.

If I have the stay, will I still able to close my account later if they limit things? They probably won't want anything to do with me after I file Bk anyhow.


I think maybe I will call the lawyer again next week and see if it is OK if I move all my money since I have a new account started somewhere else.

[chad9162]

I have someone on another thread saying to get my money out of Chase ASAP saying that they may be able to take money out of my account. So I am getting conflicting advice on the forum but I would think that my lawyer would tell me if I really needed to do this.

My understanding is once you file the automatic stay is enforced. If Chase takes money to pay their debts they'd be violating the stay.

The automatic stay is to protect you from creditors, basically preventing them from taking any action against you. So closing an account is your choice. If you call Chase then its okay the just can't call you.

[StartingOver08]

Queenfluff, Chase is not going to take money out of your account if you are current. Being one day late on a cc pmt does not result in the bank using the right of setoff that these banks have between the deposit accounts and the credit accounts/LOC's or HELOCS.

Most people on the forum are behind more than one day when they file
So you are right, the information for you is a little different in that you are just now as of today not making your payments and you are filing next week.

To answer one of your questions, the minute you file BK it shows on your credit report and yes, banks/CU's pull your credit to open an account. If you want to open an account without the BK showing, make sure to open it prior to your file date. You can open up a CU account with a min dep.

[queenfluff]

Queenfluff, Chase is not going to take money out of your account if you are current. Being one day late on a cc pmt does not result in the bank using the right of setoff that these banks have between the deposit accounts and the credit accounts/LOC's or HELOCS.

Most people on the forum are behind more than one day when they file
So you are right, the information for you is a little different in that you are just now as of today not making your payments and you are filing next week.

To answer one of your questions, the minute you file BK it shows on your credit report and yes, banks/CU's pull your credit to open an account. If you want to open an account without the BK showing, make sure to open it prior to your file date. You can open up a CU account with a min dep.

Thanks StartingOver08! I noticed you to be one of the "high gurus" on here. I very much appreciate your expertise.

Yes, I think my situation is a bit different. All of my "stuff" is happening aroudn the same time! I will have a case number by this friday (May 1) so my case will be filed by Friday of this week. I am (was) current until yesterday and today. I had one Chase cc due yesterday (4/28) plus my Citibank bill due yesterday also and one Chase card that is due to today (4/29). BoA is May 8 and that will be it (except my Verizon cell which will be due May 8 too - I am BKing that also). So, just four cards for me and nothing else. No mortage or car or anything like that.

Thanks so much for the clarification on this - everyone situations are so different it is hard to know what is right to do for each person. I had trouble sleeping last night because the decision on this kept running around in circles in my head.

I think I will start up a new account with a bit of my money next week - just to get a start on that because I guess I won't be able to be with Chase after the BK - which is fine with me. I am looking into credit unions around my house.

Thanks again StartingOver08 and chad for taking the time to clarify everything for me!