direct deposit

[denise5]

I am expecting a direct deposit of my pension on June 1. I filed chapter 7 on May 25. I am reaffirming 2 loans at my credit union . The are aware of this
and have sent the reaffirmation documents to my attorney. My concern is that they will freeze my account and I won't receive my direct deposit. All of my monthly expenses are taken directly out of my account . My attorney is
sending the reaffirmation papers for me to sign before the 341 meeting. Will
my funds be available to me on June 1?

[isitoveryet]

From what I understand, the bank will only freeze funds on the date that you file. However, Credit Unions can be weird about this and if you have outstanding loans, they might hold the funds, if they haven't recieved the reaffirmation.

[justbroke]

Yes credit unions are strange and are notorious for freezing accounts and using their "right of setoff". Luckily for you, they can't apply your "post-petition" pension payment received on 6/1/2010 to things that happened before the 5/25/2010 date that you filed. That would be a significant violation of the automatic stay!

What are you reaffirming?

[MrsDixon]

What are you reaffirming?

Yeah, I was wondering that too.

[denise5]

I am reaffirming a car loan with a balance of 5900.00 and a signature loan of 700.00 that my sister cosigned.

[justbroke]

I am reaffirming a car loan with a balance of 5900.00 and a signature loan of 700.00 that my sister cosigned.

Okay, that's not too bad. I guess you're protecting your sister.