The debtors filed for Chapter 7 bankruptcy in August 2009. They held four accounts at wells fargo bank at the time with a total balance of about $17,000, which they did not claim as exempt in their original Schedule C. Wells Fargo runs an automated computer program that compares the names of new chapter 7 cases to those of account holders.
The Debtors filed a chapter 7 bankruptcy on March 7, 2014. They had four bank accounts with Wells Fargo with an aggregate amount more than $5,000.00. After filing, Wells Fargo placed the accounts in "bankruptcy status" identifying them as property of the bankruptcy estate controlled by the chapter 7 trustee.
Chapter 7 debtors- wells fargo freezing BANK ACCOUNTS! Here is the scenario: On the date of filing bankruptcy, the Debtor has checking and savings accounts with Wells Fargo Bank, N.A. The Debtor claimed the Accounts as exempt in his Schedule C filed with the petition.
Avoiding an Administrative Freeze on Your Bank Account.. The husband also has a debt to Wells Fargo from before their marriage.. in a Chapter 7 "straight bankruptcy" case all of your assets technically belong to your "bankruptcy estate" until the time expires for the trustee and creditors.
I just found out that Wachovia froze my business checking account, because I filed chapter 11 bankruptcy. I’ve been reading a lot of articles and none of them mention wachovia freezing accounts when you file chapter 11. All the articles I read so far are stating that Wachovia will freeze your account when you file chapter 7.
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Our experience with regard to the freezing of bank accounts by banks has been that Wells Fargo Bank will freeze a debtor’s bank account upon the filing of a Chapter 7 case and write to the Trustee asking the Trustee if the Trustee wants the money forwarded to him/her.
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Here’s what to do if your bank freezes your checking, savings, or other deposit account after you file for bankruptcy, and how to avoid this in the first place. By Carron Nicks It doesn’t happen very often, but if your bank freezes your checking, savings, or other deposit account after you file for bankruptcy, it’s not only inconvenient, it.