When I declared bankruptcy, my banks’ credit card was one of the creditors. I am aware that whilst bankrupt they may not touch any savings I have, but when discharged, will the rules change. A friends son recently started work, and his pay was deposited into his bank account, but when attempting to access it, was told that as he had owed the bank money they were entitled to take the deposited funds.( the loan was not an overdraft, but similar circumstance to my own)
Related posts:
- Can I Have A Savings Account Before My Bankruptcy Is Discharged? Will The Trustee Take The Money?
- Can A Bank Take Your Savings Account Money After A Bankruptcy Disharge?
- I Had A Savings Bond In A Small Bank In Texas. How Do I Find It?
- Is The Sovereign Bank A Good Bank..or Which Bank Is Good To Open A Savings Account?
- How Do You Withdraw Money From A Beverly National Bank Savings Account?
It depends on if you filed a Chapter 7 or a Chapter 13.
With a Chapter 7, once a Judge discharges the debt, it is gone. So no, they can’t take your savings. That is, of course, assuming that the banks debt was included in the bankruptcy.
With a Chapter 13 payment arrangements are made to repay the debts and there is a payment schedule that has to be adhered to. And, I don’t believe that it can be discharged until all of those payments are made; which would mean that the bank has then received their funds and should not be able to take your savings.
However, bankruptcy laws have changed a lot over the past several years and it is always best to consult your lawyer.