One more bank account question

[bkrelief22]

I'm new at this and trying to learn all I can. I have moved my checking acct out of a bank where I had a cc debt. It is now where our car loan is...however, the car loan is current, always has been and will be...we are going to reaffirm it after we file in Oct. Is there any problem with this $ being in that account?

Thanks for all your help...you guys are wonderful caring people at a time when we need it the most...plus we're all in the same boat!

bkrelief22

[AngelinaCat]

Hi bkrelief22: Welcome to the forum. From what you said, I think you will be okay. Just make sure to reaffirm the car. Now other members of the board might advise against reaffirming if there is any possibility that you might NOT be able to make the payments and on time. If you do a 'ride through' then for some reason can't pay, you won't be held responsible for the difference.

Members lajazz947, and CountryGirl have had some nightmare experiences if you want to search on some of their posts.

Good luck to you~

[bkrelief22]

Thanks AngelinaCat...i appreciate your reply. We can handle the payments so that shouldn't be a problem...will be sure to reaffirm.
Thanks for the help!
bkrelief22

[AngelinaCatHub]

Thanks AngelinaCat...i appreciate your reply. We can handle the payments so that shouldn't be a problem...will be sure to reaffirm.
Thanks for the help!
bkrelief22

Another thing, they could and did with us, lock up the account, froze it, until the papers were signed. If you have outstanding checks they will bounce and if you have a debit card it will not work, so I would forwarn them and have the papers ready at hand. 'Hub

[bkrelief22]

Another thing, they could and did with us, lock up the account, froze it, until the papers were signed. If you have outstanding checks they will bounce and if you have a debit card it will not work, so I would forwarn them and have the papers ready at hand. 'Hub

I'm not sure what you mean by until the papers were signed...can you please explain. Thanks
bkrelief22

[AngelinaCatHub]

Our Credit Union locked the account as if it did not exist. I could not get online and they dishonored the outstanding checks. After discussing it with their credit department BTW they are out of state, I assured them I wished to reaffirm my car loan and OD protection. They gave me any NSF charges back, honored my checks and once we got the papers from them signed them they are both recorded in this state and their state. It isn't hard, but be prepared in the event they close your account to activity. 'Hub

[BKParalegal]

This is not typical of most banks, freezing accounts during the BK (from filing until discharge) but some Credit Unions have done that, and on a couple of occassions, I have had Wells Fargo do that, we usually tell a client to have a second checking account at the time of filing, keep the balances low, and limit activity until after you file.

Good Luck