Chase bank and checking account

[covinian]

I've been reading and reading the forums and there is such great info here. After reading, I am getting more nervous about stuff.

I have a Chase credit card. Actually it started out as Country Wide about 2 years ago and then Chase took over and closed the account immediately for lack of use. I owe about $1600 on it. I also have a Chase checking account. I have decided to file BK and retained an atty. I started getting calls from Chase immediately about the credit card after I was late in paying and after retaining the atty answered the phone and told them I was in the processes of filing BK and to contact my attorney. They were nice enough.

BUT, now I'm worried about my checking account. I don't have any money in it right now, but I have my direct deposit from my work going into my account on Friday. I've read that sometimes creditors go in an take the money in your bank account. My question is this....what are the chances Chase will do this to me now knowing that I intend to file for BK (eventhough I haven't actually filed yet).

Thanks so much and thanks for all the great information on the site.

[ForumReader]

You should switch to different banks you do not have loans or credit cards with immediately to prevent any freezing of your existing account(s). You mentioned you are expecting your deposit on Friday. I am not sure what Chase would do but you may have to immediately take money out and put in your new account before Chase does anything. Leave very little money in your Chase account. I have been told Wells Fargo and most CUs are notorious for freezing accounts and seizing funds to offfset their loans/credit consumers filing for BK may have with. Good luck and remember to ask questions to your attorney

[mtbc]

I think I remember reading that in bankruptcy they are allowed to take money from your account to set off against your debt with them. It's certainly something to watch for.

Especially with bank consolidations, you may also have to be careful that your direct deposit doesn't go into some other account in a bank with a different name but owned by Chase, if there are any.

[liz417]

I was worried about the same thing when I stopped paying my Chase credit card and they took over Washington Mutual which I had a checking and saving account at. I finally moved my money over (it took about 6 months to finally getting around to doing this) to a new bank but left Chase accounts open with $25 in there, nothing was ever taking out and the accounts are still open.
I would open another checking account and have your payroll check stop being deposited in that account for now.

[covinian]

Thanks so much for your replies. It all makes sense. At this point I don't have any money in my checking account, well maybe $10, and was waiting to get paid again to open another account at another bank. I was just worried about this upcoming deposit....if they take my check, I'll be in a bigger mess than I already am.

So liz417, was it 6 months after you informed Chase that you filing to the time you took your money out?

thanks again!

[liz417]

So liz417, was it 6 months after you informed Chase that you filing to the time you took your money out?

thanks again!

My deposits continued to go into my Chase/WaMu checking account almost a year after I stopped paying my Chase credit card. I finally changed accounts about a month before I filed. You really don't have anything to worry about.