Feeling alone, but not angry...

[CindyLou]

Why did your bank put a hold on your account? did they have a judgment? My advice is CASH AND CARRY ONLY until you file. Forget accounts for now. Open a new one and put $25 in it and don't use it. Just keep it open to have an account.

Again, why did they "hold" your money?

[FreshLikeADaisy]

Newbeginning, I think the first step is to find out who placed a hold on your account and why. If it was the bank itself, then they did it at whose request?

A creditor has to have gotten a judgement against you before they can seize, levy or garnish anything you have, in the bank or otherwise. These things don't just fall out of the sky.

(The exception to this is when a credit union cross-collateralizes your unsecured debt to your bank accounts at the same institution, which means that you agreed to let them take money out of checking to satisfy credit card debt with them, for instance. But even then, that's not a hold: they just take the $$$.)

In any case, find out who put the "hold", if it IS a "hold" (as opposed to some other form of freeze; you need to know exactly what it is so that you can deal with it appropriately), how long the hold is in effect, and at whose request.

Also, when you do get access to the money again, get it in a cashier's check and close the account.

Good luck!!! Please keep us posted!

[newbeginning]

It was placed on hold just today. I checked my account only this morning and it was fine. Later this evening I was informed that it was placed on hold by the bank. They gave me the number to the RISK CUSTOMER SERVICE, but they are not open except during business hours.

I do not know of any judgments, etc.... I have been so busy with my wife and son that I may have not noticed any letter indicating thus.

Very despondent now...

[newbeginning]

Got 1500 of it back! Apparently a second hold was not released, so I managed to withdraw 1500 of the available 1950. Have no idea why they are holding a recent deposit of over 3900 dollars. 3500 of it was in the form of a money order. The other 400 was out-of-state checks.

This is all strange and disconcerting...

BTW,

I opened up another account. I would like to continue automatic payments for mortgage and insurance. Is this okay?

[lrprn]

I opened up another account. I would like to continue automatic payments for mortgage and insurance. Is this okay?

Until you file, stick with paying your bills by cashier's check, money order, etc - anything that creates an independent proof-of-payment paper trail for you and doesn't give up your new account information to your creditors. Better to be safe than sorry (as you have already discovered).

[newbeginning]

Man o' Man, if it's not one thing it's another...i feel bad about using you all for a sounding board...just found out that my wife had written a bad check ($20) and it will cost us close to $250 in fines and fees. And I will need to appear in court to explain why she is unable to...what else is going to come out of the woodwork?

Still...not angry.

[BKOnce]

It's okay to be angry and expressive. Because if you hold it inside, it creates more emotional *stress* & clinical *stress" symptoms too.

[Minnymouth]

Sounds like the "hold" at the bank is for the large money order $3500 and out of town checks that you deposited. That's normal procedure until they clear......

Other than that you should have "no holds"............ if you do, find out why, and who.................

As the others advise, open another checking account, keep a small amount in it only....

Use cash and money orders, keep receipts for payments.

During bankruptcy even the mortgage company cannot tap your checking account with automatic withdrawls... so pay them with money orders during the bankruptcy process. Just make sure you make timely payments....

[HeatherB]

Sorry for your bad luck. I somewhat think I know how you feel. My mom did all the expenses, too and fell behind on so many bills without telling anyone. I'm not really sure where she spent all the money or how. We didn't realize how bad it was until after she died (cancer of the spine). She didn't have credit card payments luckily, but the mortgage, car payments, utilities, etc were all behind. It's impossible for me to be angry at her about it now. I would much rather have her back and be broke than live another day without her.

The only saving grace for my dad and their bills was that she had a life insurance policy that covered everything and then some. It would've expired a month after she died. We got lucky in that aspect.

I'll pray for your wife and you.

[newbeginning]

Sorry to hear about your mother, HeatherB. The other difficult thing about all of this is trying to sort out why my wife wouldn't tell me long before we got to this point. Anyway, that's all water under the bridge...

BTW,

Since I will not begin chapter 7 proceedings for at least 4-6 months, why and how does it hurt to have an account open elsewhere? I know to make certain that I empty out my account when I start proceedings, but couldn't I maintain a normally functioning account until then?

Thank you.

[lrprn]

Since I will not begin chapter 7 proceedings for at least 4-6 months, why and how does it hurt to have an account open elsewhere? I know to make certain that I empty out my account when I start proceedings, but couldn't I maintain a normally functioning account until then?

As long as you are aware of the need to have as little in your accounts as possible on filing day by planning ahead, you can maintain your accounts as usual. We did.

Keep in mind you don't accomplish a low balance on filing day by by withdrawing cash. You do it by purchasing necessary things (new clothes, car repairs, etc) that you may have been putting off for a long time and also by sending in your bills early so that they have a chance to clear the account before you file.

There's nothing wrong with pre-planning. It's the smart thing to do when you file.

[newbeginning]

Thank you.

Some of my CC accounts are 120+ days past due. My concern is that legal proceedings may occur before I get a chance to file for ch. 7. With medical bills starting to come in and now way to pay them and keep up with mortgage, etc. what should I look for? Is filing prematurely ever a necessary option? For example, if legal action has been advanced? Sorry, I am just not familiar with every detail to look for...

Thank you.

[mcdulph]

Newbeginning, please talk to a BK attorney about how to plan all this. It will take a HUGE load off of your mind. A local attorney will know what kind of pre-bankruptcy actions will be okay, and what actions would cause you even more trouble in the long run. And good luck--it sounds as if you are overdue for some.

[newbeginning]

...what else am I going to discover?

What now???

I will be seeing a lawyer tomorrow morning to get some peace of mind and advice. What types of questions should I ask to get an idea of just how responsive this lawyer will be to my needs?

Anyway, I was looking through my wife's drawers to see what clothing items I could take to the hospital and discovered a stack of bills and notices of default, etc.

I am so confused as to why she would have resorted to all of this. But, as my thread reads, "I am not angry." Just sad and disappointed that I was not more available perhaps. My wife has apologized to me a couple of times this past week. I asked for what? She just said "...for everything." I think I know what she was trying to say to me. She has been sedated for so long that I am not certain if she will remember what she said.

Anyway, at least I will speak to someone who will hopefully give me some way out of all of this mess.

Thank you all for your advice, encouragement and support.

[newbeginning]

Met with legal assistant and got some peace of mind. Was assured that my case would go chapter 7 and not pose any issues as long as I continue to keep up with mortgage payments. I am hoping to reaffirm and negotiate better interest rates. I hope this can happen, otherwise, I will likely need to let go of our home. As long as my wife is not capable of contributing to our income, there will be no way to maintain payments on house as is.

Also, the legal assistant says that it will be $2500 to retain their services. Is this typical? Surely this is NOT the bankruptcy portion of the services alone!

Thank you.