Will debit cards be cancelled?

[shoopy]

In several posts, people have commented that after filing BK their debit cards were cancelled. Is this somewhat of an anomaly, or is it something I should expect?

I am expecting that my zero balance overdraft lines of credit will be cancelled even though there are no cross colateralization issues, and the issuing banks will not be affected by the BK. I don't have a problem with that, but would like to keep the debit cards since that is how I pay all of my bills.

[justbroke]

It's not an anomaly, but it's also not the norm. It seems that many Credit Unions will close your account, and cancel your debit card, because CU are member organizations and many don't like bankruptcy. I have not had any debit card closed and I had accounts at BofA and Chase (and a third bank) when I filed.

If you are at a CU you could have some issues. It really depends on the CU and which types of banking products you may have with them.

[Pjmax]

My debit/checking is BOA. Filed 8/27, Still working normally. From what I've read here, Wells Fargo seems to be a culprit with bank accounts and BK.

[kawh]

I have an account with a local credit union in the same CO-OP network as a credit union I defaulted with. The creditor CU is closing my checking account, and I assume their debit card is not usable now.

However, I have been using a different debit card with my other CU regularly, and it would be strange if they took any action against me, as it's a separate membership organization, they are not one of my creditors, and I am in good standing with them.

[pamkev]

My debit card was not canceled nor was my checking account closed or frozen. We carry the mortgage with this bank and did not reaffirm it. This is a local bank and not a big national one so it might have made a different.

Pam

[SadPanda]

One of my relatives whose Chapter 7 was filed and discharged over a year ago had an overdraft line of credit (with a balance) and it was not affected at all. But it's a regular bank, not a credit union. Her debit card wasn't affected either.

[lillymarlene]

I had 2 debit cards, business and personal with a credit union, and both were cancelled the second the notice of my chapter 13 filing hit. I expected this, since I had a line of credit with them that had a balance. Luckily at the time, I was sort of prepared. I had opened a new business checking account with another credit union, and also had another personal checking account with my mortgage bank. My debit cards in these last 2 places were unaffected.