Ch7 & Bank Account?

[fllaw]

What is the name of your state? Florida

Can someone please help? My wife and I are in the process of filing Ch7...especially now before new law takes effect..if it does? My question is...What happens to our "existing" checking account and our ATM card? I've been told they freeze your account. What does that mean? Can we still retain our ATM privileges?

We do not have a savings, nor any other accounts. We simply have a checking with minimum money for day to day things. What happens prior to, during and after discharge? to our checking account or ATM card?

I appreciate it!

Fllaw

 

[marottas]

AZ Nothing should happen to your bank account UNLESS your bank is one of the creditors on your BK. If they are, they can freeze your account and keep your money to pay them what you owe. If your bank is not a creditor, you should be able to use the account / ATM card just like you normally would. Just make sure the balance is below the exempted amount on the DAY you file or the non-exempt amount could be taken by your trustee to pay creditors.

 

[spoiler]

I was very worried about this myself when I filed. If any of your creditors are your bank, or are conected to your bank,(bank loan, or credit card) they will freeze or close your account and take what they can out of it when they get notice of your fileing. That would mean that your card would no longer be active. If you haven't bounced a lot of checks you should be able to open another bank account. But do it before you file. If none of your creditors are your bank then they should not receive notice, and your bank account should be fine. That's whay my lawyer told me.