If you file bankruptcy with a checking account at Wells Fargo/Wachovia bank you have a problem. This bank has decided to freeze checking accounts of any customer who files bankruptcy. No, the debtor does not owe the bank or its credit card any money, and the money in the account could be exempt wages, retirement proceeds, or social security. Doesn’t matter; don’t care. If you file bankruptcy your bank account is frozen until the money is released by your bankruptcy trustee. The bank’s position is that they are not violating the bankruptcy stay when the bankruptcy debtor does not owe the bank a debt.
A federal court recently issued an order directing Wells Fargo/Wachovia to stop freezing bankruptcy debtor accounts. The bank is appealing the order and stated it intends to continue freezing the accounts of customers who file bankruptcy. If you are thinking about bankruptcy get your money out of Wachovia/Wells Fargo bank.
Similar Posts:
- Wachovia Bank Goes Wild: Freezes The Bank Account Of Bankruptcy Debtor’s Boss
- Pay On Death Account Paid To Debtor Within Six Months Of Chapter 7 Filing
- What a Change to Debit Card Fees Could Mean for You
- State Tax Refund Garnishments in Violation of The Automatic Stay
- Monitoring Your Credit
Tags: Accounts Bankruptcy, Bankruptcy
Posted July 31, 2010 by Brayden Laura under Credit Report