So what's the consensus, close or keep open checking accounts??

[2live]

I saw and retained a lawyer today and will file sometime in March as I paid off a sig loan that I have to distance away from. He gave me a packet of things to fill out as well as a pretty comprehensive Q&A packet full of info. one of which recommended closing all checking/savings accounts.

The problem is, the credit union where I have my home and car note with (which I will be keeping) require keeping a savings account open, minimum bal $10.00. And I use the checking acct./debit card to pay the utilities, house and car notes, doctor co pays, etc. I should add no company has authorization to deduct $$ from my account.

I'd like to know of those who did not close checking accounts prior to filing, did you have any problems and if so what? Did the trustee try to take your balance?

[AngelinaCatHub]

Hey “2live” I’m a pro on this one. LOL

Credit Unions once notified, will close YOU out.

Mine of 45 years did me in, but they were very kind. I needed to keep one share, that is five bucks to have it. It’s a legal thing. Now, if you wish to use it, and you have mortgages there, and you can afford to pay just those, you must reaffirm. OR suddenly they will lock you out, online and any outstanding checks will not be honored.

It is my sincere advice to first, go by what your lawyer says, but get to the right person in the CU and tell them and then reaffirm. It isn’t because they are harda$$ed, it is because they fall under different rules. It is basically a not for profit place where the shareowners own the place. For real, you got me?

You do not want to be locked out so get this one up front. ‘Hub

[2live]

Thanks Hub! I've been with this place for 20 years and they have always treated me great which is why I have the house and car with them. Since I'm not filing till March, can I wait to talk with them or start now?? By the way, I already opened another account at another credit union that will receive my soon to be social secur. disability deposits starting in March. I wanted to keep those separate.

[CatsInTrouble]

you should def wait to talk to them til then.

[momof3b1g]

We have our savings and checking through a Credit union. We also have our 2nd mortgage, which we are affirming. What will they do? Do we need to talk to them? Don't they know we are affirming when they get the notice?