Get new bank account before bk!

[barbaramtz]

This pertains to those who have an overdraft protection account with the bank and are claiming it in the bankruptcy.

We opened another bank account, because we knew they would close our account and take what money we had to pay off the debt. So, we opened a new account and the other bank CHECKED SOME DATABASE??? to see if we had left any unpaid balances at another bank. This was Wells Fargo who checked.

If we had not gotten another bank account, the new bank(Wells Fargo) might not let us open an account with them.

Hoping the best for all who are going through this mess like we are! I pray we all come out of this unscathed and much healthier and stress free. This worrying about all our bills has caused me to gain 39 pounds and I am not a happy camper.

[keepsmiling]

Same situation. Fortunately we found this forum and were able to take care of this before it became an issue. I was wondering about that tho... is that ChexSystems?

Oh and if you haven't been saving your statements, print 'em while you still have access. I was told by a tt that they'd want 2 years' worth, maybe cuz we are self-employed--- and some here have reported the bank wanting mega $$$ (75 each!) to print them later.

I got a funny letter from that bank just the other day. It took on an somwhat p.o.'ed tone.."frankly, I am puzzled why you have refused to pay"...I thought that was hysterical. Is it really so hard to figure it out lol?

[jacko]

When you file BK, WF will freeze your account. They are the only bank as far as I know that does that. So, you will need to find another bank.

This pertains to those who have an overdraft protection account with the bank and are claiming it in the bankruptcy.

We opened another bank account, because we knew they would close our account and take what money we had to pay off the debt. So, we opened a new account and the other bank CHECKED SOME DATABASE??? to see if we had left any unpaid balances at another bank. This was Wells Fargo who checked.

If we had not gotten another bank account, the new bank(Wells Fargo) might not let us open an account with them.

Hoping the best for all who are going through this mess like we are! I pray we all come out of this unscathed and much healthier and stress free. This worrying about all our bills has caused me to gain 39 pounds and I am not a happy camper.

[IamOld]

When you file BK, WF will freeze your account. They are the only bank as far as I know that does that. So, you will need to find another bank.

JACKO is right!!!!!!

[keepsmiling]

Yeah, they seem to be the b-busters of the bunch about pretty much everything. Self appointed bk cops. Gotta love it.

[discouraged]

There's a whole thread about them - you should search for it, really awful stories. Although, I too chose Wells Fargo at first and after I read the posts, went to another bank. I did keep some money in WF though and they haven't touched it. I use it for my internet payment and don't keep much in there, only enough to pay the monthly bill for internet.

[lillymarlene]

I think if you have any type of unsecured credit with a bank, that you are including in bk, it's best to find another bank, for your checking and/or savings account. From reading other posts here and my own experience, it seems that is what banks do, as soon as they find that you've filed, they do all sorts of things, freeze accounts, stop online access, and/or cancel debit cards.

[LadyInTheRed]

I think if you have any type of unsecured credit with a bank, that you are including in bk, it's best to find another bank, for your checking and/or savings account. From reading other posts here and my own experience, it seems that is what banks do, as soon as they find that you've filed, they do all sorts of things, freeze accounts, stop online access, and/or cancel debit cards.

That's true. But, Wells Fargo/Wachovia has a policy of freezing accounts even if the debtor doesn't owe them money. I read that they only freeze accounts with balances over $5,000, but I would drain any WF/Wachovia account before filing BK, just to be safe. They claim they freeze the accounts to preserve the assets of the BK estate. They send a letter to the trustee asking for instructions. Some trustees will respond quickly and insruct them to release the funds if they are exempt. But, sometimes a trustee will not respond and the funds can remain frozen for a long time.