Question about checking account credit line

[itcaughtup]

Hi all, I have a credit line associated with my primary checking account, the credit line is for $500 and i use it fairly often, it's mainly used for overdraft protection but I am curious now if will be a problem as I didn't list them as a creditor? I have direct deposit on that account so even when i do go into the credit line, when Friday comes around it automatically gets paid back, so I didn't list them because i may or may not owe them money and don't really have a choice in paying as it is done automatically when my check is deposited?

[BK2008]

My bank caught wind of my BK7 filing...

And took the liberty of closing it for me. Even with a 0 balance.

All creditors are notified, whether you want to keep them open or not. Unfortunate, because that was one account I didn't want to mess with

[MomIcantFindmy]

The bank did not close ours........Yet! I did not include them and I made sure the balance was 0 on the day I filed then 0 at the 341 in case I was asked.

[Cali]

I hope my Credit Union doesn't close my account.

[jgordo52]

if I have an overdraft loan with a credit union, should I list that as a creditor too? As in it's tied to my checking account, I also have a cc that I will be including in BK with them as well.

[itcaughtup]

That's what I'm curious about, I'm always using it and paying it, not alot of money but does any one think it will raise any questions??

[Stilltheone]

I filed and listed my checking account advance. At the time, I owed $500 on it and, like you, the "payment" was automatically deducted from my direct deposit.

Since we listed it in our debts, we had to make sure our direct deposit was stopped before we filed.

Since our direct deposit was stopped, about a month later, the bank took out our payment...making our checking account negative. This violated the automatic stay and one phone call from my attorney had my checking account back to a zero balance.

Our last withdrawl from the advance was about 2 weeks before we filed. No one ever said boo about it.

Good luck!

[AngelinaCat]

Our experience with our Credit Union was this:

On the day we filed, we had the ledger sheets proving that we were at a negative balance. That was no problem. We also have an automobile that has a mortgage through the CU that we wanted to reaffirm. No problem there, either, or so we thought. We filled out the reaffirmation forms that the attorney provided and mailed them off. The attorney's assistant also spoke with someone at the CU by telephone and explained the situation. This CU is in Dayton, Ohio and we live in Florida. The reason we have that CU is that my husband opened that account there in 1962 when he was an apprentice for the NCR Corp. and has kept it ever since.

Several days after the filing of all the paperwork and the notices went out informing all our creditors of the BK, we got a 'Nasty Gram' from the CU stating that because we had filed BK, we had violated all the other member's trusts, yada, yada, and that they had closed the account, and that we needed to cease all our online buisness and direct deposits, and surrender our bank cards immediately. We were absolutley stunned. We could do nothing. We were also depending on that account to live on and pay bills--several of which are automatic draws.

After several phone calls to some really nice people at the CU, we got permission to be able to keep the account and be able to write checks, but could not do anything else, until we had gotten and signed a set of THEIR institution's Reaffirmation papers, and they submitted them before THEIR local court. Our attorney's Reaffirmation papers were essentially a waste of time.

Everything is cool with that now, but we were really sweating the outcome for 10-12 days.

I hope this helps some other folks out there. Our Best~~~

[itcaughtup]

Ok, thank you all for the answers, I'll see how it goes..