Bankruptcy and checking account

[down @ out]

I filed my bankruptcy on Friday October 14, 2005.

After I filed my bankruptcy I realized I had three electronic transfers being made to creditors on Monday. Filing was a last minute decision predicated by one creditor who was simply going to destroy me.

Anyway I called the bank and was told that they would cancel the transfers but to make a long story short they did not do so and now I have a negative balance of about 280.00 and it is growing at a rate of 7.00 per day. The bank will not close the account and is being very difficult about this whole thing.

I did open up another checking account about this time and have funds safely put away there.

What are the pros and cons of simply ignoring this mess and simply put them on the bankruptcy list of creditors or not even doing that. I have a 3000.00 account with them anyway that I am discharging.

Not sure what they can do. Understand they slam you with the chex system, but since I have another checking account set up this may not be such a big issue.

Help

[AAAArt]

If you can afford it, I would suggest that you bring pay off the checking acct. and then close it. Check with the bank if you put money in the account, will they pay the electronic transfers.
Do this in person if at all possible. Go in, (take your "humble pie-chill nerves pill first), ask to speak to an officer. Explain the situation calmly. Recruit their help in settling the problem. Briefly, briefly briefly explain your situation. Then ask, "What can I do now?" "I need your help...What would you suggest?"
Allow them to talk and LISTEN...don't interrupt and keep your anger in check. If they say you need to pay xxxx to bring your acct. up to date (Assuming that they say that you must pay the electronic withdrawals plus $7 per day, merely ask clarifying questions. Will this close out this checking acct. w/ you? Can I keep this checking acct.? Where do I stand with you all now? If I do this am I fair and square?
After you've established a civilized conversation and something of a rapport, then you might try saying something like, "I know that it was partially my fault for notifying you so late, but since I did and I was told that it would be done, is there any chance of getting "some" of these $7 per day charges dropped. I'm not in a good situation right now, but I want to do things as well as I can, and these are really hurting."
Now, if he/she gives any (or even if they don't), I would do my best to come up with the money and accept the deal.
My opinion only, but I don't think that you want to screw up a checking acct. of you can avoid it. Second, in my opinion only...You never want to try to resolve things like this over the phone if you have another option.
I would suggest that you go in tomorrow morning and sit down and have a chat with them. I realize that this may seem absolutely terrifying to you and that you would rather be on "Fear Factor" than go in there in person and be nice and humble, but try and realize that by not doing it, you're living in "Fear Factor Land" 24 hours a day, 7 days a week.
If you have to swallow a green frog.
do not look at it too long first.
If you have more than one green frog to swallow...
begin with the largest.
Best wishes.

[CindyLou]

bankruptcy and checking account - pay it!!

Listen and listen good! Do NOT make the same mistake I did. I switched from one bank to another 6 months ago. From Union bank of california to Wells Fargo. About a month after I switched and before I had closed the old account I accidentally used my old check card for a $50.00 purchase. The account had few dollars in it so they paid it. All said and done a few weeks later, when I noticed, I owed over a hundred dollars!! I knew I would be filing BR so I just thought I would include it and not worry....so I didn't pay the overdraft. Anyway, last thursday I stopped to pick up dinner on the way home from work.....on payday so my account was full of money. My debit card (from the new Wells Fargo account) was DECLINED!!! I called the 800 # for the bank and was told because of a new "chexsystems" entry my account had been "frozen" and was set for closure. So I had NO access to my own money. They said they would mail me a check in 10-14 working days and all transactions and checks would NOT be paid. I was in a PANIC. Luckily I know my manager at my local WF branch. I called him and now one week later he finally was able to "unfreeze" my account and ask for my debit cards to be replaced. I had to pay the Union bank + fee and interest before WF would even consider making my account good...they didn't care if it was in the BR or not. They couldn't make me pay it but they didn't have to honor the account..even though it was a different bank. I had borrow money from a friend to make it through the week even though I had over $3000 in my account. Sooo....my advice...don't mess with banks and chexsystems...it's not worth it. Plus now that i"m in chexsystems, the only people I can write checks to are utilities, credit card co, etc. I can't write checks at Department stores or anyone with a chexsystems sign for the next 3 years!! Hope this helps.
Cindy

[down @ out]

bankruptcy and checking

thanks for the advise. i did not realize this could be such a problem. I guess I should go into the bank and try to work this out.

One more question. I have a overdraft account with them. I owe them about 3000 dollars on this. I basically transferred money from this account to the checking account when I needed it.

If I zero out the checking account and the overdraft account is included in the bankruptcy will that be included in the chex system?

Basically am I toast anyway?

I can make up the deficent on the checking accont but I cannot pay off the overdraft account. I have already included that in the bankruptcy?

thanks and help

[down @ out]

bankruptcy and checking

Just one final thought. Hope someone can comment here.

I called the bank today and was told they only report nsf checks to chex.inc.
I was told that since they honored my bill pay e-pay and the charges on my account were not nsf charges they would not be reported.

I don`t know what to do. They said it would be another month before they cancel the account and charges are building up at the rate of 7.00 per day.

On one hand if I am not being lied to then they won`t report it. On the other hand if they are mistaken and do report it I will be in a lot of grief.

Help.

[dana]

should i close checking account?

i have a small amount of cash in a checking account - should i close the account and stuff the cash under my bed (!)? i've got a court date in 6 weeks.

[sunshine08]

If you have filed bk then, don't close the account, just dont use it now, that throws up a flag, big time.

[bkfiler]

cash is expempt in most states up to a certain amount. without a home in california we can have $19,500 in cash and keep it minus all the other stuff we own for the most part.

dont hide anything. everything must be listed.

its like what happenes with all the big criminals all the time. they dont catch them in the act, they cath them in a lie to the federal government (IRS usually)

[down @ out]

bankruptcy and checking

Well I went in and brought my checking account current. I really didn`t want to do it. I could have used the money but the advise on this board really helped.

The bankruptcy will hurt my credit but If I have a bad checking account and get into the chex system that will mess me up on debit cards, etc.,

The bank manager must have known about the filing. I had an overdraft account that had a 3000.00 balance. He was not very friendly. At least that will be counted as a credit problem not a checking problem.

thanks for the advise.