Because the bank where I have my checking account is not a creditor, I assume they won't be notified. Problem is that I have a credit card from the same bank. They might know that way indirectly?
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Maybe, maybe not. If it is a major bank, they have different departments and most likely-one will not know anything about the other.
If it is a smaller bank or credit union-make sure that your credit card and checking accounts are not cross collateralized. If they are, open a new bank account!Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision. -
OUr bank didn't know, until I told them...LOL
I was worried that the account would be closed. They said if we weren't filing against them, then there is no reason for them to close out account.
We use Amcore Bank out of Illinois.
pink_amuletComment
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Look out! I have a credit card at a bank where I also have a checking acct. When I fell behind on the credit card payment, they took the money right out of my checking acct to cover the missed payments. This caused several bounced checks, which really angered me but there wasn't a thing I could do about it. I understand you might not be discharging any debt with this bank but that is a potential problem if you ever get behind on payments.Last edited by JimH; 01-05-2006, 01:09 PM.Comment
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Jim-
Sounds like cross collateralization.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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