checking account

[originalhealer]

I just filed Ch 7 on Wednesday. I have two checking accounts: one through a credit union in another state, and one through a local bank. Both accounts are overdrawn. The credit union is overdrawn about $350.00 because of some PayDay Loans I didn't pay back. The local bank account is overdrawn because of bank fees that I have never heard of: two charges for $60.00 apiece for attempting to use my check card when there was no money in the account Of course, that was actually from an automatic debit for an online subscription that I had. Anyway, the account is overdrawn almost $200.00.

I don't have any money to speak of. If I include these balances in the bankruptcy, will they close my account? If they do, will they give me some time (does the automatic stay apply)? How much time do I have to pay the balance? I would like to keep at least one if not both accounts open.

[Cmonlottery]

Do you have any loans with these banks?

[originalhealer]

No, I don't.

[davidb81]

if you file on those accounts they will close them. Have you considered opening another checking account? keep in mind if you file on a credit union you will have a hard time getting another cu account so if you are going to file on them go open another one first if possible.

[originalhealer]

What if I pay the overdrawn balance before the 341 meeting of creditors?

[davidb81]

yes but check with the bank and make sure that you will be in good standing after you pay it. how much is the overdraft? If you make payments to anyone that aggregates to 600.00 or more over 90 days prior to filing, that can be considered preferential payments and the trustee can recover those payments from the creditor. so if you owe 600 or more it might be in your best interest to open a new account. I paid 800 dollars to amex over 90 days and the trustee didnt even question it. so Im sure it depends on which trustee you draw.