Changing to new bank account after filing?

[mhp8982]

I may have already asked this but I can't remember. Before I filed, my husband opened a new bank account in just his name and started his checks going there. I have kept using our joint account for my direct deposit and everything. But we are wondering at what point can I put my name on his account and switch my direct deposit over and everything? I filed in Mid May and my 341 is July 5th.

I was thinking that maybe I should be able to since they only needed bank account information up to the day I filed... and what I had that day was all that mattered. My attorney said I could go on using it like normal after I filed. I know I've seen people tell others to go ahead and open a new bank account after filing... so I was wondering if this is any different? Would it be safe? Or at least after the 341 meeting? I just don't see why it would matter at this point at all since my bank account doesn't matter except from when I filed and before?? Also I've seen where peoples bank accounts have been frozen after filing and they had to open a new one.. so I'm just confused.

I'm going to be getting a bonus sometime in early July.. and I really want it to go into the new account that's in my husbands name, to put it in savings there.

Thanks!!

[sh9730]

The reason people are so worried about this are in the instances where you are banking where you have credit cars or other loans etc.. This is because there is a potential clause in your credit card/loan/bank account that says if you have any funds available in your bank account, under certain circumstances they can FREEZE and WITHDRAW those funds to satisfy your credit obligations. This is call cross-collateralization. There have been cases where this has occurred even when the person files BK. The courts have not totally figured whether this is ok or not yet. SO, most atty's and others just say, why take the chance?

For example, I had my bank at US Bank, and I had a credit card with a balance with an 'affiliated' (not even US Bank direct) bank. to play it safe, I opened another bank account and have my direct deposit going there. I left a little money in the first bank just to keep it open, and so far no problem...but until discharge and that credit card debt is no longer enforceable, I will not put any significant money in that account. Even then I havent rec'd a clear answer whether they can still cross collateral on a discharged debt, so I may NEVER feel comfortable going back to that bank, which is a bummer as they were much more convenient than the local bank I have now.

Anyway, if you dont have any credit relationship with your bank, I dont think it should be a problem doing whatever you want...

[mhp8982]

so you opened a new bank account as your main account after filing?

No, I don't have anything on the old account and it's not frozen. I just want to join my husbands account. It's making it stressful to pay bills having them separated.. and I want to be able to put money into the savings in the new account. Plus we wanted to change banks anyway, because of all the fees the old one is charging.

I just didn't know if it would cause any problems for me to change over to this new account before the 341 meeting or before discharge. I can leave a little money in the old one and wait until it's all over to close it. I just didn't want to change my direct deposit over and everything and put my name on another account if it would cause any problems.

[sh9730]

It shouldnt be a problem joining your husbands account. Any money you get AFTER you file is yours to do with (except taxes or other monies you KNEW were coming before you filed). But, if you want to be ultra safe you may want to wait until after the 341 next week.

Oh, and yes, actually I opened TWO accounts related to my filing....with my orignal bank I had credit cards/mortgage, and I also had monthly payments withdrawan that I wanted to ensure got stopped. So, then I changed to US bank before I filed, but then LATER realized I had this other credit card that was distantly related to US bank, so to be safe I opened up yet ANOTHER account with a local bank where I had no history. I did this last one AFTER filing, which was fine, except that since i had the BK on my credit already they wouldnt give me a visa logo ATM yet...which is a pain...

So, Im hoping I can go back to US Bank after discharge (since I already have an ATM with them), but Im still nervous that even a discharged debt could be taken by this clause...unlikely....but who knows.

But again, what you want to do does not seem like a problem.

[mhp8982]

Thanks.. I left a message for my attorney asking him. I don't know why, I just hate calling him.. he intimidates me lol.

[mhp8982]

I would just really like it to get switched over before this bonus check gets direct deposited! I don't know if it'll be next week on the 1st which is before my 341 or if it will be after that. They didn't tell us for sure.. I figure it'll either be on the 1st or the 15th.

[discouraged]

I opened a new account as I had a over limit loan with my old one, but - stupidly chose Wells Fargo and when I heard all the horror stories about them, opened up another one with a neighborhood bank. I kept WF for internet bills only because I'm not sure I'm going to keep my provider and didn't want them connected to the new account.

So I had 3 bank accounts (the 1st wouldn't close the account because of the LOC) and it did not phase the Trustee one bit. They may be used to people changing banks during bk due to the connection with cc's. Hopefully your attorney gets back to you soon to reassure you about this.

[jetsfan2010]

it seems to be a common practice to switch banks/credit unions before filing