"Pledging Accounts" of Bankruptcy Debtors

[1969classic]

[StartingOver08]

The $3000 would ONLY be viable in your BK district. Each state has its own exemptions allowed and California is extremely generous in their exemptions. For others that read this thread check your states exemptions before you have a $3000 balance. Check here: www.legalconsumer.com

[leena]

The first thing my attorney told me was to get my money out of Wells Fargo. I had an account there since 1995, so I felt bad about it but I did change banks.

He never mentioned any specific balance, just said to close the account.

[2manybills]

My attorney said the same about Wells Fargo. In fact, he said that the TT's in California are getting made at Wells, because they are freezing accounts that have been exempted and then the already burdened court system is having to send letters to unfreeze these poor folks bank accounts.

[liz417]

I have a Wells Fargo account and nothing was frozen, of course I didn't have over $3k in the account

There was another poster (in Calif) here recently that had over $10k in her WF's account and they froze all her money and she had to fight to get SOME of it back!

[albacore44]

Wells Fargo had been my bank for quite a few years. When i decided earlier this year, that filing was in my future, i open up an account with a Credit Union and switched my direct deposit. The Wells account dwindled down to nothing and they closed it. i did this just prior to defaulting on the 2 cards we had with them. I also had my wife remove her name from her Mothers Chase checking so they would not freeze that. It's all about proper planning.