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    #1

    Which Bank to choose?

    Hello, Me and my wife are planning on filing BK in December. We have had separate accounts for a while now and both of our accounts have CC's that will be discharged. We decided to open a new account with BOA. After reading some comments about them, Im concerned we made a bad decision opening an account with them. Previously we were with a CU and Wellsfargo. What banks do you guys recommend using? There is only one other CU here near me and im concerned with using them because they are somewhat connected with my previous CU. Thanks for the help

    Kyle
    Tags: None
    #2
    After filing for Bankruptcy, I opened accounts at two different banks, SunTrust and BB&T. I opened at BB&T because I thought I had issues with ChexSystems. BB&T uses ChexSystems, so that was moot... and they did open my account. I also opened one at SunTrust just in case.

    I had issues after filing with my Bank of 20+ years!
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment

      #3
      We are considering opening a bank account locally because our CU is in another state and when 'Hub and I do get a local check for computer consulting, it is a royal pain trying to get anything cashed when you don't have a local account.

      There is a BOA branch that we and some family members have done business with in the past, and our experiences have been very good with them.

      But banks are banks, and I'd shop around and see which institution has the best deal for you. Also, look for the giveaways. Our local Prosperity Bank was giving away George Foreman Grills for a while.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

      Comment

        #4
        Originally posted by Silver26 View Post
        Hello, Me and my wife are planning on filing BK in December. We have had separate accounts for a while now and both of our accounts have CC's that will be discharged. We decided to open a new account with BOA. After reading some comments about them, Im concerned we made a bad decision opening an account with them. Previously we were with a CU and Wellsfargo. What banks do you guys recommend using? There is only one other CU here near me and im concerned with using them because they are somewhat connected with my previous CU. Thanks for the help

        Kyle
        Yes you did make a bad decision to go with B of A. The negative comments about them that you read are true.
        What do you mean by the other credit union is somewhat connected to your previous CU? While not 100% certain I do not believe that credit unions are conspiring with each other.
        When I filed bankruptcy on two CU products they cross collaterized, and stole whatever I had left, $10 in my savings account. The same week I opened accounts at another CU. No questions asked, and no issues ever since.

        Comment

          #5
          I guess what i should have said was Shared branching, I can goto pretty much any credit union in AZ and do my banking there. Since all the CU's are interconnected im concerned they could get access to my new accounts or do like a Shared branch withdraw or something like that. I would love to be able to goto the other major CU here and get a account thats my only concern. I really hate that I wont have a account with my current CU anymore because honestly they have been very good to me over the years but i dont have a choice.

          Comment

            #6
            I have BofA and had them before filing. I had 3 cards with them and have never had a problem. They are everywhere and it's easy to find an atm.
            Filed Chapter 13 05/23/08
            Converted to Chapter 7 Jan 2012
            Discharged April 2012

            Comment

              #7
              Originally posted by chloe0724 View Post
              I have BofA and had them before filing. I had 3 cards with them and have never had a problem. They are everywhere and it's easy to find an atm.
              ...And that is why I have not left BOA...they're everywhere, can use the Publix ATMS/no charge....and they're buying up the rest of the banks with the money they're extracting from their customers...I guess it could be worse, my credit card companies who I owed thousands pre BK, could have have hit up my bank account....
              Filed Oct 2005discharged February 2007,Shapeless in the fire's glow, tell me if you think you know,
              Who it was we were below, where we've been and where we go

              Comment

                #8
                I kept my bank(filed against them) and kept my local CU(didn't file against).

                chloe - did you file against BOA?

                Comment

                  #9
                  Yes, I had three cards with them when I filed.
                  Filed Chapter 13 05/23/08
                  Converted to Chapter 7 Jan 2012
                  Discharged April 2012

                  Comment

                    #10
                    Originally posted by Silver26 View Post
                    I guess what i should have said was Shared branching, I can goto pretty much any credit union in AZ and do my banking there. Since all the CU's are interconnected im concerned they could get access to my new accounts or do like a Shared branch withdraw or something like that. I would love to be able to goto the other major CU here and get a account thats my only concern. I really hate that I wont have a account with my current CU anymore because honestly they have been very good to me over the years but i dont have a choice.
                    Find out about the legalitity of shared/interconnected CUs and what one can legally do to you if you're with another one.

                    Comment

                      #11
                      Originally posted by magyar123 View Post
                      Find out about the legalitity of shared/interconnected CUs and what one can legally do to you if you're with another one.
                      I.E. read the fine print
                      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                      Status: (Auto) Discharged and Closed! 5/10
                      Visit My BKForum Blog: justbroke's Blog

                      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

                      Comment

                        #12
                        Originally posted by chloe0724 View Post
                        I have BofA and had them before filing. I had 3 cards with them and have never had a problem. They are everywhere and it's easy to find an atm.
                        They don't cross-collaterize?
                        May 2008 Hired 1st Attorney/Stopped paying CCs
                        May 21, 2009 Retained 2nd Attorney
                        May 28th - Filed for Ch 7 (FINALLY!)
                        9/11/09 - DISCHARGED!!!!

                        Comment

                          #13
                          Banks aren't suppose to cross-collateralize, CU's do.

                          Comment

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