Bank took $1100 out of my checking account

[BkinTX]

Yes, online access is gone. But honestly, I never really used it so no big loss for me.

I have started looking around in case we do have to switch. I know Geico runs a credit check. D'oh!

[DSIG]

Yes, online access is gone. But honestly, I never really used it so no big loss for me.

I have started looking around in case we do have to switch. I know Geico runs a credit check. D'oh!

let us know how it goes with the policies. I take it you did not have a checking account with them?

[California]

The issue here in the OP's first post way back when is that the bank took her funds out of her account BEFORE she filed, probably using a cross-collateralization clause. This is why the bank does not have to return the funds. No filing, no automatic stay protection - her bank had every legal right to do what they did.

Section 553 of the Bankruptcy Code says the opposite. A Bank cannot take the money if there purpose was to obtain a right of setoff against the debtor.

Under cases such as In re Union Cartage Co., 38 B.R. 134, the Bank had to give the money back to the debtor,

WHY?

Because the debtor deposited money into there account, it was taken out by the bank shortly after. Now, if the debtor had $1000 in the bank and it sat there for 90 days, then the bank could take the money since there was no intent to obtain a settoff (the money had just been in the bank to long to imply that). BUT, because the debtor deposited the money and it was taken out soon after, the court said that there intent was to obtain a settoff in violation of Section 553(a)(3).

Section 553 of the Bankruptcy Code will not allow a bank to take recently deposited money to satisfy a debt owed to them and it will let the trustee get the money back if the Bank took the money and as a result "improved there position" as to other creditors.

[LuciluS]

California:

Hope you printed the Code and went to the Bank to retrieve the monies removed from your account. Hope you were successful.

Luci

[debtmonster]

So will GEICO dump my insurance for filing BK?!?!?

[BkinTX]

No, I don't think so. I just doubt I will get a competitive rate if I go with Geico bc of the credit check. I don't think they drop you for BK.

I have heard that USAA does, but they are a Credit Union, not just an insurer.

[OhioFiler]

My wife always gets her nails done. That's the way it has been for years. This is Miami. You want to look good here. This is not some podunk redneck town where people don't care about how they look.

Using living in Miami as the excuse why your wife has always got her nails done makes no sense to me. You've only been in Miami for a couple months.

[debtmonster]

Using living in Miami as the excuse why your wife has always got her nails done makes no sense to me. You've only been in Miami for a couple months.

She has acrylics done. Those are never cheap.

[BkinTX]

Lol.

[debtmonster]

She's always done them that way since we've been married, even up north.

[BkinTX]

Still LOL'ing.

[debtmonster]

I know.

At least it's nice to have a woman who likes to look good.

[BkinTX]

Certainly. One of the most important things in life, I'd say.

[LuciluS]

I used to get my nails done every two weeks with Acrylics. That stopped after the auto accident 3/14/05 which deemed me 100% disabled.

Even if the accident hadn't occurred and BK was in the future, I dang sure coudln't justify to my hubby I needed to spend $$ to get my nails done every two weeks!

I've been working again on medical bills today. Medicare just paid for my Breast biopsy in March and I owe $250. Because of having pre-cancerous cells I'm scheduled on the 10th for another Mammo. I've got to cancel as we don't have $250 to pay by the 10th.

Dh's miles have been cut drastically & just found out at his driver's meeting this past Sat. health insurance is going up $130 a month. Filing 9/30/09. Fresh Start for us?? I don't think so because we are literally Walking Medical Patients. Help? None..We are not at poverty level.

I just want to Run Away

[BkinTX]

I can never keep acrylics (even if I could justify the expense). I have little ones that might be scratched and I have to do things like scrub floors. Long nails are not very practical for me.