Question about garnishing from CU bank account after chpt #7

[Blue_Ray]

[Blue_Ray]

anyone??

[Logan]

Ray, I wouldn't be concerned. Different company so they can't just go giving other credit unions or banks the money you deposited.

It's funny how we get paranoid over everything...it sucks.....

Good luck

Paranoid Logan

[magyar123]

Just before I filed in 2004, I had a checking, savings account with a credit union. In my petition I had included a ca loan, and a credit card from. My lawyer advised me to close the checking and savings accounts as credit unions have the right to "steal" any funds if you file on one of their products.

[JRScott]

They could only take money if you defaulted on that auto loan. For your own safety it might be better to open another account at some other bank/credit union in which you have no debt with just in case any reaffirmation falls through to protect your money.

They cannot take the money for a CC owed to a partner institution though.

[brokeinmichigan]

Both my husband and I belong to a CU...the same one for the past several years. We also have a personal loan through this same CU. Not once, during this whole BK ordeal, has ANYTHING ever come up with our CU checking or savings accounts, nor with our loan. I was a little nervous in the beginning, but it seems we're in the clear. Of course, we didn't include the loan that we have with the CU in our BK...it was for a car and it's nearly paid off and has always been current.

Good luck...

[lrprn]

Of course, we didn't include the loan that we have with the CU in our BK...it was for a car and it's nearly paid off and has always been current.

Either you didn't have a cross-collateralization clause in the loan or your credit union decided you were so close to finishing it was best to let you ride it out.

Credit unions are notorious for enforcing cross-collaterization loan and credit card clauses in bankruptcy. You were lucky, BIM!