Legal Question in Bankruptcy in California

filing for ch 7 bankruptcy

I have a credit card from my bank with balance on it but I made arrangements with them year ago to be making payments on it and they are currently automatically withdrawing payments from our bank account. When we list this account on the forms for our bankruptcy lawyer is there any chance that we will lose our checking account? Also I was told that while filing I should call the credit card co. up and tell them to stop the automatic withdraw from my acct. Wont they get upset and just take the remaining balance on the acct. and withdraw it from my bank acct?


Asked on 9/26/08, 2:00 pm

2 Answers from Attorneys
R.C. Lim The Law Offices of R.C. Lim

Re: filing for ch 7 bankruptcy

Don't worry the bank won't get "upset." What you need to do is to suspend the automatically withdrawal and file. Once you file, the automatic stay will prevent them from withdrawing from your bank account.

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Answered on 9/26/08, 2:15 pm
Robert Mccoy Law Office Of Robert McCoy

Re: filing for ch 7 bankruptcy

If you do not list your checking acct you will lose it. If you list it as exempt, you probably will not lose it. The credit card company must stop all collection efforts once you file bankrutpcy and cannot empty out your bank account. But if they do anyway, the trustee in bankruptcy will probably go after them.

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Answered on 9/26/08, 6:29 pm


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