I guess I'm closing my WaMu acct...

[liz417]

Hi All,

I just spoke to my attorney because I was concerned about Chase taking over Washington Mutual Bank and withdrawing funds since I owe Chase over 24k. He advise me to stop our automatic deposits and switch banks just in case...
What a hassle! Do any of you have suggestions? Maybe a CU or a smaller bank? We live in a small town and WaMu and BofA are the only two main banks here... I can't go with BofA because I will be BKing on 2 of their cards!

Any advice? Thanks

[AngelinaCatHub]

In this unsettled time, and the fact I know nothing about CA except it is tax hell, put it into a little bank and there are still some private little banks secured by FDIC, for all that's worth with our crooked politicians. I do believe this is a year we may just see a shake out of the rats nest in D.C. 'Hub

[HHM]

Honestly, you are probably over reacting. But do what ever makes your comfortable.

[Cali]

I agree with HHM, I think you are over reacting as well.

I filed on a bank and owed them a lot more than you owe and I still have the account open.

[JRScott]

Better to be safe than sorry I always think.

Probably try one of the smaller banks but make sure they are FDIC insured.

[fltoo]

If it were any other creditor than Chase, I would say you are over reacting.
With Chase, I would change banks yesterday.

[magyar123]

Hi All,

I just spoke to my attorney because I was concerned about Chase taking over Washington Mutual Bank and withdrawing funds since I owe Chase over 24k. He advise me to stop our automatic deposits and switch banks just in case...
What a hassle! Do any of you have suggestions? Maybe a CU or a smaller bank? We live in a small town and WaMu and BofA are the only two main banks here... I can't go with BofA because I will be BKing on 2 of their cards!

Any advice? Thanks

Where in California is this small town? Try going to Bankofthewest.com and click on locations. I did go with Bank of the West once the rumors started flying around that Wamu is going to hell.

[arkienurse]

Someone in another post recommended checking your bank out at bankrate.com. I would definitely check it out before moving my accounts, especially since you said there are mostly small banks other than BOA and WaMu in your community. The place to go is under the heading " Is your bank safe" on the right side about mid way down.
I went there over the weekend and found out that my bank has the highest scores possible, but one of our banks in town has the lowest. True it is FDIC insured but that would still be yet another hassle to have to change banks again, set up direct deposit, order checks/debit cards, etc, etc.
So if you are going to move your account, check them out first.

[epiphany]

Where in California is this small town? Try going to Bankofthewest.com and click on locations. I did go with Bank of the West once the rumors started flying around that Wamu is going to hell.

I opened my Bank of the West account when I closed my checking account at my CU due to loans I owed them that I was including in BK.

I really like them. They are not as big as BOA or the like, but they do have many branches.

ep

[liz417]

I agree with HHM, I think you are over reacting as well.
I filed on a bank and owed them a lot more than you owe and I still have the account open.

Cali~ How far behind in payments were you before you filed? By the time we file (end of year), we would have had 7-8 months of non payments on the credit cards, I just don't want to make it any easier for Chase to have access to my money.

Thanks all for the advice, I will do a little more research on banks before I switch!

[liz417]

If it were any other creditor than Chase, I would say you are over reacting.
With Chase, I would change banks yesterday.

Yes, Chase and Amex have been the most aggressive of all my creditors.

[cupcake]

Liz, for what it's worth, I did the same thing yesterday. My bank popped up in a few articles yesterday as possibly being one of the next banks to go and my first thought was that Chase would take over. Chase and Bank of America are my biggest creditors and I desperately need what little money I have.

[joab]

I'd be pretty amazed if you had any kind of cross-collateralization agreement allowing Chase to take money from your WAMU account just because they bought WAMU. But go ahead and move your money if it will reduce your stress level.

[ready2puke]

Amex found my home number, geez I cant hardly remember it.. lol They call me all the time at work, at home on my cell.. Im about 2 month behind on 2 cards with a total amount owed of....drum roll please......650.00 Unfreckin believable!!!!!!
They're like a mad dog with a bone.