When you file bankruptcy. there is an automatic stay on collection. The clerk doesn't even consult a judge; she stamps your copy "relief ordered" and hands it back to you before you even leave the window.
That doesn't keep the bank from soliciting new business. It's only a bar to collection of existing debts.
If you have a secured debt to the bank, such as a car loan, it might sense to approach the bank. If you owe $8,000 on a car that's only going to bring $4,000 at auction suggest to the bank that you would be willing to reaffirm the debt if they write the loan down to $4500. That gives them more money than they would get at auction, and they don't have to spend a lot of man hours
selling it.
If you have got into too much debt and cannot pay the money you still owe you may consider filing for bankruptcy. The Bank for America address for bankruptcy is, Bank of America, Attn: Bankruptcy Department, 475 Crossy Point Pkwy, PO Box 9000, Getzville, NY 14068-9000.
A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.
Filing for Chapter 7 bankruptcy forces all of your creditors to stop harassing you, as all proceedings are temporary put to a halt while the bankruptcy is processed. However, you typically have to take the initiative and show proof of your bankruptcy to the bank for them to stop harassing you.
in most cases you can't included student loans in the bankruptcy filing. It would all depend on who your're trying to get the loan from. Some would let you have a loan (like the government student loans and stuff) but if your trying a private place like a bank you might not be able to.
No. The Bank of New England Corporation was liquidated following its bankruptcy filing. Bank of America is the successor (following Fleet Financial Group). There is a small New Hampshire bank that now goes by the name Bank of New England.
yes
No they do not close your Checking or Savings account
Only the State and Federal government institutions have the right to levy your bank account directly. Banks can take your paycheck to cover insufficient funds in the check-owner's bank account (with that bank) but cannot do so just because the owner of the account is filing for bankruptcy.
You can open a bank account immediately after filing for bankruptcy. There really is no waiting period.
You give your car back to the bank after filing bankruptcy, the bank will ask your attorney for the vehicle back and give you a certain amount of time and the location to return it to. Definitely do not give it back before you file you will need to have it discharged legally from your debts.
If you have filed for bankruptcy as an individual, rather than as a couple, then you are only filing on your personal debts. Following this logic, only those funds that are yours (so your share of the bank account, if that is possible) will be "up for grabs." Your bankruptcy status should not have an effect on your partner.
If you have got into too much debt and cannot pay the money you still owe you may consider filing for bankruptcy. The Bank for America address for bankruptcy is, Bank of America, Attn: Bankruptcy Department, 475 Crossy Point Pkwy, PO Box 9000, Getzville, NY 14068-9000.
if you want it to
Why are you filing bankruptcy if you have money in the bank? You are entitled to exemptions, which may include some money in a bank account. The amount you may exempt will depend on whether your state has its own exemptions or allows you to use the federal exemptions.
No, once a bankruptcy is filed an automatic "stay" is in place, and creditors cannot pursue any collection action. Even outside of bankruptcy, a creditor cannot arbitrarily garnish a debtor's bank account. The creditor needs to file and win a lawsuit, be granted a judgment and then enforce the judgment as a bank account garnishment.
Only your creditors should receive the bankruptcy notice. A careless petition preparer could have names and addresses on the list that do not belong there. If you don't owe your bank any money, they should not be on the list.
A foreclosure or bankruptcy is never good for your credit, this is something you'd be better off discussing with an attorney. You can avoid foreclosure by filing bankruptcy.