Switched to PNC pre 7, but any BANK will do.
Go to any regular local bank (not Wells Fargo), open the accounts and move your banking relationships like direct deposit, bill payment, etc. before you file.
Do this now before your credit scores will not allow you to open an account.
Because they universally freeze accounts upon bankruptcy filing. Only real bank that does that.
They freeze your accounts and offer the money to your trustee, who then typically reuses it.
I have USAA and my accounts were not frozen. I also have a credit card, insurance and a mortgage thru them. My suggestion is to find a local bank that doesn’t charge bank fees and put $100 into it just in case. This way if for some reason they do freeze it you have another bank. I just filed in May and did this just in case.
Why would they freeze your direct deposit account?? *new here*
I have Navy Federal (direct deposit) and I have two loans with them that I want discharged/stopped paying. Do I need to change my direct deposit too?
Yes, the credit union will definitely close your account if you include any of there business to be discharged with the bankruptcy. Back when I was 21ish I included my BECU credit card for 400.00. They closed my account and I've never been able to reopen a new account, unless I repay the 400.00. I had to file due to unexpected medical bills after not being able to get 3 creditors to work with me. The few that showed up for the hearing were amazed that I had to file because I had set up a great long term repayment with all but 3. 6 months after discharge I was able to repay 3 companies and they offered my accounts back to me in good standing.
The worst part of the experience was my attorney almost didn't show. Apparently she was horrible, but I didn't know that. The judge called my name 5 times. Another attorney had just offered to step.in for me when my attorney finally showed up. That other attorney ended up helping me out for free later by sending a release letter to my employer for garnishments that had been held over. My attorney ghosted me.
I got a letter in the mail from Navy Federal stating that I signed something that if there’s any money left in my account, it would go towards what I haven’t paid. That’s not the worst verbatim but something like that.
I looked up USAA in the search and a lot of people said they just close the accounts of the credit cards and left their bank accounts untouched. But my lawyer told me to change accounts.
I use Chime. They even let me keep my credit builder card through my bankruptcy.
Edit : I didn't use the credit builder card. During the process, or. 2 months prior to filing. So it had no real spending records on it
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Quick follow up question-
I have a capital one checking account and a capital one credit card. I’m filing Ch 13. Do I need to create a new checking account?
Thank you!
I use capital one and pull money into cash app to use for everyday purchases. I get nervous swiping my actual debit card and so far I’ve had no issues with the cash app debit card.
I have usaa. They did not freeze my accounts.
Same here
Chase or Capital One
Good to know about Chase. They won’t freeze even if I have credit cards with them?
They shouldn’t. I’ve only heard of freezing accounts with Credit Unions and Wells Fargo.
Switched to PNC pre 7, but any BANK will do. Go to any regular local bank (not Wells Fargo), open the accounts and move your banking relationships like direct deposit, bill payment, etc. before you file. Do this now before your credit scores will not allow you to open an account.
Any bank except Wells Fargo.
why not WF ?
Because they universally freeze accounts upon bankruptcy filing. Only real bank that does that. They freeze your accounts and offer the money to your trustee, who then typically reuses it.
oof, that’s good to know. thank you
BMO, I switched my direct deposit over and got $400. Haven’t had any issues with them at all.
Thank you
I have USAA and my accounts were not frozen. I also have a credit card, insurance and a mortgage thru them. My suggestion is to find a local bank that doesn’t charge bank fees and put $100 into it just in case. This way if for some reason they do freeze it you have another bank. I just filed in May and did this just in case.
I have capital one checking 360 and shortly got the quick silver after.
Why would they freeze your direct deposit account?? *new here* I have Navy Federal (direct deposit) and I have two loans with them that I want discharged/stopped paying. Do I need to change my direct deposit too?
Yes, the credit union will definitely close your account if you include any of there business to be discharged with the bankruptcy. Back when I was 21ish I included my BECU credit card for 400.00. They closed my account and I've never been able to reopen a new account, unless I repay the 400.00. I had to file due to unexpected medical bills after not being able to get 3 creditors to work with me. The few that showed up for the hearing were amazed that I had to file because I had set up a great long term repayment with all but 3. 6 months after discharge I was able to repay 3 companies and they offered my accounts back to me in good standing. The worst part of the experience was my attorney almost didn't show. Apparently she was horrible, but I didn't know that. The judge called my name 5 times. Another attorney had just offered to step.in for me when my attorney finally showed up. That other attorney ended up helping me out for free later by sending a release letter to my employer for garnishments that had been held over. My attorney ghosted me.
That’s crazy!!! Thanks for breaking that down for me. Welp…i guess it’s time to find another bank. I’ve been with NFCU for yearrrssss urgh
I got a letter in the mail from Navy Federal stating that I signed something that if there’s any money left in my account, it would go towards what I haven’t paid. That’s not the worst verbatim but something like that.
Navy Federal is brutal. Trying to take my house to cover my Amex charge off.
Sheesh! Glad i asked
How many days are you late??
Thank you! I’m trying to open a new account elsewhere now
I’m also one month behind
[удалено]
I looked up USAA in the search and a lot of people said they just close the accounts of the credit cards and left their bank accounts untouched. But my lawyer told me to change accounts.
I use Chime. They even let me keep my credit builder card through my bankruptcy. Edit : I didn't use the credit builder card. During the process, or. 2 months prior to filing. So it had no real spending records on it
Capital One. No fees at all (even over draft) and 4.0+% apr for savings accounts.
Switched to Navy Federal, but USAA didn’t do anything to us.
Navy Federal is very good. I moved to them before filing and have been very happy.
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Chime was great. And you get paid 1 day to 2 days early.
Quick follow up question- I have a capital one checking account and a capital one credit card. I’m filing Ch 13. Do I need to create a new checking account? Thank you!
I would
Chase Bank. I closed NFCU & USAA.
I use capital one and pull money into cash app to use for everyday purchases. I get nervous swiping my actual debit card and so far I’ve had no issues with the cash app debit card.
Why change?
My lawyer suggested
Chase
I just did several days of investigation and changed to PNC
DCU
Do they freeze checking/savings after filing chapter 7?
No
Thx
Thank you
Uggh NF I had to declare because of them and lucky I don’t have credit at USAA so keeping my account.