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    First Post - Question

    Hi - I've been lurking for a while and there is a ton of great information. My husband and I are hoping to file by the end of the month. I've spoken with 2 attorneys, and have one that can file within a week or two. However, I am still contemplating doing it myself because we really don't have the money.

    My question is regarding recent bank overdrafts & fees. I have 2 separate accounts that are overdrawn. The first one is the result of payday loans (well, "advances" from the bank that have basically the same terms as payday loans). We owe this one almost $1700 after all of the OD fees and the charge-off fee. It closed on 8/19. The second one is still open, and the first overdrafts occurred just last month. It is now overdrawn almost $1200 due to fees and the payment of a few ACH transactions (no checks). I have been in contact with the bank and offered to make weekly payments if they could stop the od fees (because my payments would be basically paying the fees) but they informed me that they could not so I have not yet made any payments to them.

    My main concern is my case getting thrown out due to these 2 accounts. My total debt that I would be including in the BK is just under $40,000. So I would hate to jeopardize it for these small(er) amounts.

    Waiting isn't an option, because my husband started working a lot of OT this month, which is why we want to file ASAP, and we're just under the state median as it is.

    Are there other options besides waiting? I'm really more concerned about the recent one. Thanks in advance.......
    Filed pro se (ch 7, no asset) 10/27/09
    341 12/14/09
    Discharged 03/29/10

    #2
    Originally posted by Hope2File View Post
    Hi - I've been lurking for a while and there is a ton of great information. My husband and I are hoping to file by the end of the month. I've spoken with 2 attorneys, and have one that can file within a week or two. However, I am still contemplating doing it myself because we really don't have the money.

    My question is regarding recent bank overdrafts & fees. I have 2 separate accounts that are overdrawn. The first one is the result of payday loans (well, "advances" from the bank that have basically the same terms as payday loans). We owe this one almost $1700 after all of the OD fees and the charge-off fee. It closed on 8/19. The second one is still open, and the first overdrafts occurred just last month. It is now overdrawn almost $1200 due to fees and the payment of a few ACH transactions (no checks). I have been in contact with the bank and offered to make weekly payments if they could stop the od fees (because my payments would be basically paying the fees) but they informed me that they could not so I have not yet made any payments to them.

    My main concern is my case getting thrown out due to these 2 accounts. My total debt that I would be including in the BK is just under $40,000. So I would hate to jeopardize it for these small(er) amounts.

    Waiting isn't an option, because my husband started working a lot of OT this month, which is why we want to file ASAP, and we're just under the state median as it is.

    Are there other options besides waiting? I'm really more concerned about the recent one. Thanks in advance.......

    That won't be a problem. I would list the bank as a creditor. Close the other account and get a new bank account. Large charges are problem with you charge over $600 for luxury items, etc. If you incurred this debt trying to get by and as a result of outrageous bank charges, then it won't be an issue.
    Filed Chapter 7: 7/3/09
    341 Hearing: 8/6/09 - Went Smoothly!
    Discharged: 11/30/2009
    Closed: 12/16/2009

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      #3
      You'll be fine, just add both accounts in the BK. As 2manybills stated, these aren't "luxury items", so I don't think the Trustee will care much. Just remember that you may have a problem opening another bank account in the future.
      May 2008 Hired 1st Attorney/Stopped paying CCs
      May 21, 2009 Retained 2nd Attorney
      May 28th - Filed for Ch 7 (FINALLY!)
      9/11/09 - DISCHARGED!!!!

      Comment


        #4
        The only problem I see is not related to filing bankruptcy. You are fine to file now. But due to the overdrafts being upaide, you are now in Chexsystems, and it is going to take 5 years for you to get a bank account that uses Chexsystems. Discharge does not take care of this type of negative on Chexsystems. Discharge will take care of any CU or bank that closes your bank account because you included one of their credit cards in your bankruptcy though.
        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

        Comment


          #5
          I've already successfully opened another account, so I'm not concerned about that.
          Filed pro se (ch 7, no asset) 10/27/09
          341 12/14/09
          Discharged 03/29/10

          Comment


            #6
            Originally posted by Hope2File View Post
            I've already successfully opened another account, so I'm not concerned about that.
            Then you are fine to file now.
            You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

            Comment

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