Legal Question in Bankruptcy in California
Changing my bank
I have Wells Fargo Bank for my checking account and was told they would automatically freeze my account once I filed and that I need to change banks. Is there a list of financial institutions to avoid when setting up a new checking account?
1 Answer from Attorneys
Re: Changing my bank
Wells Fargo's policy seems to be to temporarily freeze any account where the amount is $5000 or less. Nonetheless, I would avoid Wells Fargo just in case. Also, avoid Union Bank under any circumstances if you are filing for bankruptcy.
Finally, banking with ANY financial institution that you owe money to. If you have a car loan with Bank of America, don't have your checking account there.
There is no list that I am aware of. It's just something that attorneys learn over time on their cases and speaking with colleagues.
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