We bank through a credit union and have a credit card with them. I am probably going to try to file chapter 7 in March since I used the credit card for little things like eating out and other small purchases. I do have to wait 90 days since I used it don't I? Also two of my kids have a savings account with the same credit union. They are young so I had to put the account in my name as well. Should I take their money out? Can the credit union take it even thought it is in their names too?
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You'll want to read this thread posted by someone in the EXACT same situation situation
Recommendation, GET THE MONEY OUT! -
Get a new account/bank
We bank through a credit union and have a credit card with them. I am probably going to try to file chapter 7 in March since I used the credit card for little things like eating out and other small purchases. I do have to wait 90 days since I used it don't I? Also two of my kids have a savings account with the same credit union. They are young so I had to put the account in my name as well. Should I take their money out? Can the credit union take it even thought it is in their names too?
You need to get the money out and close the accounts .. IF YOU CAN .. or just stop using them and divert your money into a new bank/account. I was with a couple credit unions w/my credit cards and unsecured loans with them. I couldn't CLOSE my accounts because I had the loans/cc's tied with the checking/savings, they wouldn't let me, so I just kept a minimum of $5 dollars and STOPPED using them.
In one account I actually had $10 and they automatically took $5 as payment towards one of the cards I owed on!
They will put a freeze on the accounts that you have for your children AS YOU ARE THE PRIMARY. (Actually I think I just read a post here that the bank froze their childrens accounts!)
So any money you have in those credit unions, any direct deposits (divert the monies!) They use what they call "cross collateral."
Best Wishes, Catchmeifyoucan
July 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo:Comment
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Get your Childrens Money out now !! CU took 2k of my Childrens
in a cross-collateralization clause thet is on their accounts.
We even talked about this money prior to filing with our attorney and he thought was safe. Well now even he is educated at my kids expense
but no mind after discharge I will put it back in another place.Comment
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