Should we change banks before we file?

[keepsmiling]

Do a search here on the forum and you will see quite a few posts for WF and their nosy nonsense. Apparently they are the self appointed watchdogs for the US gov't for all of us slackers.

Just not worth the risk IMHO.

[LadyInTheRed]

I was really worried about this, but it's extremely unlikely that your WF accounts will be frozen unles syou owe them money or unless it's a large balance. I had trouble opening a new checking account anyway because my credit was shot(obviously), so I didn't have a choice really. I'm glad it worked out the way it did, I've got nothing but good things to say about my experiences with Wells Fargo.

Anyone who leaves money in a Wells Fargo or Wachovia account and files Chapter 7 is risking not being able to access that money for a while. One lawyer's blog also said Union Bank will freeze accounts. Wells Fargo has stated that they will not freeze accounts with balances under $5,000. That is probably why you had no problem. But, I still wouldn't trust them. If you have money deposited with Wells Fargo, Wachovia or Union Bank, remove your money from the account and put it elsewhere until after you file. You can go back to using the account later. If you hide the cash under your mattress, don't forget to list it as an asset on you BK Petition.

Since Valle Yum couldn't link to his source, here are some that can be linked to:

http://bklaw.com/bankruptcy-blog/2009/03/bank-accounts-freeze/

http://www.scbankruptcyattorney.com/blog/frozen-bank-accounts-bankruptcy-wells-fargo-and-wachovia/2010/05

http://stevesathersbankruptcynews.blogspot.com/2010/07/ninth-circuit-bap-finds-wells-fargo.html

http://www.brandtlawfirm.com/bankruptcy/wachoviawells-fargo-bankruptcy-filers-be-warned/

That's only the first 4 results on my google search. There are many more.

[tobee43]

PLEASE...listen to what Lady says.. it's really the truth.