BofA just bought MBNA???

[GoingUnderInNV]

Well, as I discussed in another thread, I had a fairly successful 341 hearing today. But something interesting has cropped up, and since my attorney is out of town and the paralegal can't answer the question, I thought I'd come here.

The single main cause for my filing C13 was because of an MBNA credit card. Included that card as MBNA in my filing, and both they and their attorney/collectors were both served. Well, this morning I was checking my online checking account (BofA), and WHAMMO! Suddenly there's a new credit card listed under my "accounts", called a "BofA Premium Platinum Card" (or some such), with a balance that matches my MBNA balance!

So the question is this: I know MBNA was served, but do we now have to include BofA? Or do we shut up about it, and hope NEITHER files a claim (MBNA doesn't exist anymore, and maybe BofA hasn't caught up yet)?? What do you think? Kinda concerned, but not losing any sleep over it.

Thanks!

[HHM]

You are way over thinking this...first, probably neither is going to file a claim, if they were going to, your attorney would have received a letter from the creditor about a possible objection to discharge.

MBNA's infrastructure didn't go away...so they know you filed...I wouldn't worry about it, it may take some time for the information to filter through.

[miss puff]

I wonder if you should be concerned that they share the same bank as your checking account. Haven't some accounts by others on the board been cleared out by cross collaterization-okay that might not even be a word, but I know I heard something like that. Might be something to look into.

p.s. glad your 341 went well today welcome to the 60 day club

[HHM]

Cross Collateralization is more a feature with Credit Unions than with main stream banks...banks would be in violation of the automatic stay if they attempted to withdraw funds from your checking account to pay the credit card.

[miss puff]

welcome to the 60 day club

I guess you don't wait 60 days with 13? Or do you still have the 60 day object time frame?

[AMISLANDER]

Please don't make me any more nuts than I am...

...I had heard that BOA bought up MBNA, also, one of the cards that I filed on. Since I'm already discharged, I hope that they can't come back on my bank account with BOA?

Just another thing to freak out about, eh?

[GoingUnderInNV]

I guess you don't wait 60 days with 13? Or do you still have the 60 day object time frame?

Nope... ;) It's more of a "Welcome to the 5-year Club!"

[GoingUnderInNV]

...I had heard that BOA bought up MBNA, also, one of the cards that I filed on. Since I'm already discharged, I hope that they can't come back on my bank account with BOA?

From what I understand, if you're already discharged it's a done deal.

[CindyLou]

Chase bought out Bank One and they clear my checking account! Luckily this was a "spare" account I was keeping open with $100.00!

[AMISLANDER]

wow...

Chase bought out Bank One and they clear my checking account! Luckily this was a "spare" account I was keeping open with $100.00!

was this before or after you were discharged? What's the whole story?

[CindyLou]

I had checking account with Bank One for years (10 or so...) and then moved to california where there is no Bank One. I didn't have any credit cards with Bank One at all. I filed BK back in October 2005. Somewhere along the way (not sure when), Chase bought out Bank One. I wasn't even aware of this. Well I kinda forgot about the Bank One account until recently. So I called Bank One to see what I needed to do to get my $100.00. First of all when I called the 800# for bank one they answered "Chase customer service". So when I gave them the account # they transferred me to the deliquient accounts department who explained to me that they account had been taken for payment of a deliquent credit card account when my bankruptcy was filed. She gave me the credit card account number and it matched my chase account. So thats my story. I'm out a $100.00, but in the whole scheme of things its not that big of a deal. I'm just happy to be done with the whole BK thing! My suggestion is open an account with a local bank or credit union before filing and you are much safer from buyouts and changes of ownership.

[Spartan]

I think I have 2 MBNA cc's. One of them with a balance of around 20k.

I haven't filed yet. I wonder what happened to those now. Since it has been 4 yrs, MBNA must have sold the debt long ago.


When BK is filed, is the notice served to the one who bought the debt or the original creditor, or both? If the debt has been sold a couple times, does each of the buyer have to be served?

[SinkingFast]

We had an MBNA acct. Got notice some time back that BoA had bought out MBNA.

Now the MBNA acct shows on our Credit Reports as BoA MBNA.

[Spartan]

I think I have 2 MBNA cc's. One of them with a balance of around 20k.

I haven't filed yet. I wonder what happened to those now. Since it has been 4 yrs, MBNA must have sold the debt long ago.


When BK is filed, is the notice served to the one who bought the debt or the original creditor, or both? If the debt has been sold a couple times, does each of the buyer have to be served?

To answer my own question: I have found out that in no-asset CH 7, all dischargeable debts are discharged, even if for some reason you fail to list them.

[9877donna]

To answer my own question: I have found out that in no-asset CH 7, all dischargeable debts are discharged, even if for some reason you fail to list them.

That is exactly right.Now take a deep breath and relax.
Donna