I plan to retain a lawyer here soon for a Chapter 7. Should I stop the direct deposit of my paystub and get a paper check or wait til some time later?
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Retained BK Lawyer on 10/13/10
Filed BK 7 on 10/29/10
341 Meeting on 12/8/10 -
Why would you need to stop direct deposit? Is the direct deposit going into an account with an instution that you also have credit accounts with that will be included in your filing? Or do you bank with Wells Fargo? Do you have any garnishments? Otherwise, no, no need to change direct deposit.Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC -
I have a checking/savings with Wachovia, which is owned by WF. I do not have any CC with them.Retained BK Lawyer on 10/13/10
Filed BK 7 on 10/29/10
341 Meeting on 12/8/10Comment
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Since Wachovia is now WF, and WF has the practice (which they are being sued for) of freezing client bank accounts when they learn of a bankruptcy filing, I would immediately open a checking/savings at another financial institution, and redirect your direct deposit and all ACH's and bill pays out of WF prior to filing. If you stay with WF and they freeze your accounts you will not have access to your money until WF receives a letter from the trustee indicating they can release your funds, which can take a few days.Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETCComment
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Do you think my attorney or the trustee would have a problem with me getting a paper check? I don't like banks much anyway.Retained BK Lawyer on 10/13/10
Filed BK 7 on 10/29/10
341 Meeting on 12/8/10Comment
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Nope, direct deposit is more convenient for most, but the choice is yours. Money is still accounted for and make sure you keep a paper-trail of your expenses since you'll be running cash only, so feel free.Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETCComment
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We were told /"strongly advised" NOT to open an acct with WF because of their practice of freezing accts during bk. There are some interesting stories on this forum about WF to definitely heed warning from.Comment
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The odd thing is that there are some great stories from folks who have a mortgage through Wells Fargo, how easy they were to work with. WF seems like a 'Dr Jeckyll & Mr Hide' sort of company.....the good Dr Jeckyll for mortgages and the evil Mr Hide for bank accounts.
Tom in Colo
ps: never heard many good reports on Wachovia, I disliked them way back in the day when I was in business. But they have a clean record while WF seems to have a federal suit against them about every year.Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010Comment
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I suggest stop the direct deposit and use checks to serve as proof of payment.Comment
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