FINALLY Filed 9/1 - Is it ok to use our bank now??

[girlgator95]

Hi All,
I haven't posted a lot on here, but I am relieved to report that we finally filed CH 7 last week. My question now is, is it okay to use our bank account? Our acct is with one of our creditors and we also have a judgement against us. The girl at our attorney's office says it's fine and that if they take any money, they will have to give the money back. However, I can't afford for them to take the money and wait for them to give it back. Just wondered if anyone has any thoughts experience with this?

Thank you!!

[Freddy03]

I would open a new account ASAP. Some banks have been known to freeze account until after discharge.

[girlgator95]

I don't think we'd qualify to open one. We tried prior to BK, but our credit was in really bad shape. We were denied by at least 2 banks and 2 credit unions. I need to pay some bills that require payment electronically (IRS, auto Ins.). I thought about using a pre-paid Walmart card, but I read some horror stories online about using those. Any ideas??

[Freddy03]

Do you have a Regions near you? They offer 2nd chance checking accounts. If your current bank is Wells Fargo they are known to freeze accounts.

[IamOld]

Freddy is right! I wouldn't use the account at your present bank unless you have no other choice...

Are there really SMALL VERY local community banks near you? Could you try them?

Big deep breath - Most Walmarts have Woodforest National Bank - they also have "second chance" checking, but they will fee you to death, and service is non-existent. BUT it is an account. Also, they will hold any checks you deposit for a few days...ehem...few days.

[girlgator95]

We currently bank with Chase. There is a Regions bank near us, but I looked on their website and didn't see any info about second chance checking accounts...

[my2girls]

When we told our CU who we banked with and have loans with that we were going to file they froze our debit/ach immediately. Sued us in 60 days! I'd take your $$ elsewhere!

[rps78]

We are about to file and just reading this site made me want to change accounts, we banked with BofA and have a cc there we are going to BK on, so we just moved to another bank., Our lawyer recommended we do this.

[lillymarlene]

Last year I had two checking accounts, one business one personal, with a credit union that I really liked. I also had a small line of credit with them. Then on the advice of a friend, before I filed, I took most of the money out of both those accounts and started another business checking account with another credit union, and it was good that I did.

When the old credit union received my petition, they cancelled my debit cards, and closed my personal checking account. My business account there is still open, but "inactive" with a $10 balance. Not that I'll be depositing any $$ there any time soon. I think that, once you've screwed up with a bank, it's best not to go back there again. I even avoid banks where my deceased father (who died heavily in debt) had a lot of dealings...which has left me with a very limited choice of banks. LOL

[girlgator95]

Thanks for all the advice. Going to try a couple of banks in the morning to see if we can get a new checking account. We should not have anything in the chex system, but our fico was pretty bad prior to filing last week. I've read that it can go up some after filing (if it's already low, and it is--well under 600), but I'm not sure how long it takes.

[Freddy03]

Thanks for all the advice. Going to try a couple of banks in the morning to see if we can get a new checking account. We should not have anything in the chex system, but our fico was pretty bad prior to filing last week. I've read that it can go up some after filing (if it's already low, and it is--well under 600), but I'm not sure how long it takes.

Try Regions - They use EWS (early warning system instead of Chexs). I had a very low score and was able to get a checking account. So far they have been great. Only down side is their hours stink.

Good Luck!

[Charlie777]

My attorney recommended I open a new account before filing with a bank which I would have no loan relationship with. I used TD Bank, one of several he recommended.

I maintained a checking account with USAA through the process, also discharged a CC with them (intended to reaffirm but they managed, with my lawyer's office, to screw that up), no interference with the checking account, although I didn't run much money through it.

After discharge I joined NFCU.

[StartinOver]

Be like a dog. Don't soil where you sleep. (i.e., don't borrow where you keep your cash accounts.)