Posted on Saturday, 31st July 2010 by Toby Duncan
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
- Judgement Creditor Serves Writ Of Garnishment Upon Chapter 13 Trustee And Gets Debtor’s Money
- Second mortgage and foreclosure
- Chapter 7 Debtor Defers Income Tax Refund And Protects The Money From His Bankruptcy Trustee
- Discharge Of Student Loan In Chapter 13: One Debtor Got Away With It
Tags: Accounts Bankruptcy, Bankruptcy
Posted in Free Credit Report News | No Comments »