Personal and Business Bank acct?

[ekorB]

Ever since we stopped paying on our credit cards, I've felt very uncomfortable going into a bank that I owe money to. My wife and I have 2 separate business accounts and one joint personal account at this bank. We have a personal credit card that's about 2 months past due. I'm afraid of the looks I'll get when they see this on my account. So I have avoided going in to do any transactions.

My question is, will my personal account have any affect on my business account? We plan on filing BK on all personal debt and my wife's business debt. My business account was opened under my the business' EIN.

[BROKENN]

They can still take money out of it. We had both too and on just an overdraft, not a CC payment, they took one from the other. EIN or not. I would keep very little money in them

[Tbornetun]

I agree, keep very little money in them. Open another account at a different bank, start putting all your money in there. Don't close the other accounts until the BK is closed, but don't use the account either, just let it sit.

This ensures some form of protection for your money so you can survive. It is perfectly legal and it will also give you a fresh start with a new bank.

[Andyman]

My attorney advised me to close my account where I had my business/personal account because I was also on a loan for a 2nd that my ex is responsible for. I opened another account at another small local bank. Of course, I'm just starting the process of filing but just getting my ducks in a row.

[ekorB]

Thanks for the response. Did any of you have any problems getting a debit card from the new banks? I'm worried that when I do open a new bank account they'll see the past due accounts and deny me. Will they even allow me to open an account with this history?

Thanks!

[StartingOver08]

EkorB, when you say past due accounts...do you mean cc's etc you have not paid? Or do you mean you have bank accounts with OD's?

If it is the former, you should be ok. If it is the latter, then you will have a problem due to the chexsystems database. When you open an account, they will pull your credit (usually) and also check to see if you have a history of overdrafting the checking accounts. OD's can be due to checks or debit cards or ATM withdrawals.

[BROKENN]

Yes, that is right. I just posted yesterday getting a debit card with a smaller bank.

[ekorB]

Starting...it's just a CC. We don't have any OD debt..thank goodness!

Thanks!

[StartingOver08]

ekorB - you will be fine then!

I felt the same as you. I just opened up an account at another bank (and I just had my 341 and it has been continued until 11/21 so I am not even in the 60 day club yet) But when I went to the branch to open a checking account I told the teller/account rep my exact status. He high fived me! Said he had filed BK twice in his lifetime and he would "show me the ropes" on how to get back on my feet. At the end, he opened a checking with a mastercard debit and a small savings with an autodraft feature from checking to savings. He gave me a peck on the cheek and sent me on my way.

Have to say, I was very, very pleased. He turned what could have been an extremely difficult process into an almost pleasant experience!

Don't wait. Go open your account in another bank right away.

[larryg]

I'll be opening my third business acct soon. Owe cc with the 1st bank then the 2nd bank bought the 1st banks within a month after I opened my new acct. Now I'm trying to find a bank and cc processing co that is stable and will not be sold to someone I owe money to before I file bk. The cc processing is the hardest part because most of these companies are owned by the larger banks.

[BROKENN]

I just had my 341 and it has been continued until 11/21 so I am not even in the 60 day club yet)

Hey Starting Over! You should be in the 60 day club!!! It still marks your discharge date. Did you check PACER??

[BROKENN]

I'll be opening my third business acct soon. Owe cc with the 1st bank then the 2nd bank bought the 1st banks within a month after I opened my new acct. Now I'm trying to find a bank and cc processing co that is stable and will not be sold to someone I owe money to before I file bk. The cc processing is the hardest part because most of these companies are owned by the larger banks.

I just opened a Business Account at a small local bank that is great. Visa Debit and all. I was concerned for the same thing and for a small fee, the small bank subscribes to the service for you! I can live with that!

[StartingOver08]

No, but I will. Tried to check yesterday and it was down for maintenance until Sunday at 3:00 pm!!

[BROKENN]

No, but I will. Tried to check yesterday and it was down for maintenance until Sunday at 3:00 pm!!

Darn! And let us know! I am betting you get to start a new thread!

[rockyroad]

BROKENN let us know if you find a cc processor not assoc. with a large bank. I'm looking ofr one as well!!