Will My Checking Account Be Affected?

[anonymuse]

I'm concerned with mine since my home equity loan is thru the same credit union as my checking account with the overdraft. I'm wondering if they can cancel the loan and demand payment or tack overdraft onto the home equity loan. Needless to say, any cash in my checking will be going in a new account at a different bank when filing.

[lrprn]

I'm concerned with mine since my home equity loan is thru the same credit union as my checking account with the overdraft. I'm wondering if they can cancel the loan and demand payment or tack overdraft onto the home equity loan. Needless to say, any cash in my checking will be going in a new account at a different bank when filing.

We had the exact same situation as yours, Anon - checking, overdraft protection, and second mortgage HEL at the same bank. That's why we opened a new checking account at a different bank before we filed. Just felt we couldn't take the chance of any bank shenanigans with all of our monthly income at stake while we prepared to file.

[saucey]

my problem is that i am filing by myself,not with my husband.both our names are on the checking account.

[lrprn]

my problem is that i am filing by myself,not with my husband.both our names are on the checking account.

Ah....now I understand your situation better - thanks for sharing that you are married and only you are filing.

You have three choices then - move the checking account to another bank and both of you deposit to it, keep the original account for your husband and open a new account for yourself at another bank, or take the chance that nothing will happen and keep things as they are.

If you are filing pro se (without a lawyer), then now would be an excellent time to have a free half-hour-to-hour consultation with 2-3 bankruptcy lawyers in your area who are familiar with your community and what's happened to other married folks who filed without their spouse. And if you are planning to file with a lawyer (which personally I would recommend since your finances appear to be intertwined with your husband's and a mistake affects him directly), this is a great question to ask him/her.

Good luck, saucey - please keep us posted on what happens and remember we're here for support any time you need it.

[anonymuse]

We had the exact same situation as yours, Anon - checking, overdraft protection, and second mortgage HEL at the same bank. That's why we opened a new checking account at a different bank before we filed. Just felt we couldn't take the chance of any bank shenanigans with all of our monthly income at stake while we prepared to file.

Did you try to discharge debt that was in your overdraft protection?

[lrprn]

Did you try to discharge debt that was in your overdraft protection?

Yes, when we filed, it had been at the maximum for quite some time - $3,500. It's listed as a non-secured debt, and our former bank has not challenged it.

[saucey]

i dont know guys.my lawyer says to keep the checking account since it is in both mine and my husbands name.i am filing by myself and says i do have to include it in the bk but wants me to call the bank and explain that since my husband is not filing we are gonna keep the account and continue to pay the overdraft.doesnt sound good to me.im worried they will take are money then close it down.what do guys think?

[anonymuse]

i dont know guys.my lawyer says to keep the checking account since it is in both mine and my husbands name.i am filing by myself and says i do have to include it in the bk but wants me to call the bank and explain that since my husband is not filing we are gonna keep the account and continue to pay the overdraft.doesnt sound good to me.im worried they will take are money then close it down.what do guys think?

I don't mean to question your lawyers advice, but whatever you do is ultimately your choice--and you have to deal with the consequences of those choices. They will effect you--not your lawyer.

[miss puff]

I didn't think you could discharge overdrafted checks?