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Banking with Banks IIB

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Regular Contributor

Banking with Banks IIB

I currently have a bank account with a bank I don't like but due to the major banks being involved in my Ch7 BK obviously I have no choice at the moment.

 

Once I get my DC what are the chances of getting a bank account at a bank that was IIB?  Specifically a bank account not a CC.  I realize they can't collect now or after my DC.  Any issues I should be aware of?

Message 1 of 9
8 REPLIES 8
Senior Contributor

Re: Banking with Banks IIB

Dont like seeing posters get no responces. So here goes. You could go to any bank that would fit your needs. Doesn't need to be a major bank. Most wouldn't give you a unsecured CC anyways. Chase, BoA, WF and so on. Best bet could be credit unions possibly. I left Chase after my BK when I found out here they dont approved BK'ers. I went to SunTrust which will be joined with BB&T soon. Opened C&S. And I have a card from both. Just tossing ideas to you. Good Luck! 





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 9
Regular Contributor

Re: Banking with Banks IIB

Just to confirm.  Talking about bank account's not CC's.  I'd prefer to goto a major bank.  For whatever reason.  

 

Just to confirm from what you said:

 

For only a bank account some banks won't approve BK'ers?

 

Would that definitly be the case for banks whose CC's were IIB?  Inregards to getting a bank account with them.

Message 3 of 9
Senior Contributor

Re: Banking with Banks IIB

With all due respect. The red is unwarranted. I answered your unanswered post to give you ideas on where to open bank accounts. In turn that would lead to having a relationship that could get you a credit card. Make calls to major banks you want to use and ask them if they will open accounts with a BK on file. I knew what you were asking and know the difference from a CC and a checking account.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 9
Regular Contributor

Re: Banking with Banks IIB

Sorry.   Went a little overboard with that.  Didn't mean anything by that.

 

Was just surprised to hear that even for just a bank account a bk could cause issues.  I prefer some of the services most of the major banks provide.  The bank I had to switch during the bk procuess is a bit lite on the services.  Obvously I have to live with whatever I can get until this all blows over.

 

Thank you for all the info.  Very helpful as always.

 

 

Message 5 of 9
New Contributor

Re: Banking with Banks IIB

Depends on what you want out of a bank. If you burned them, a lot of the major banks will let you have a bank account, but you will never build any kind of relationship beyond that ever again. Obviously this varies by bank, but because you aren't specific as to which banks it's hard to say. 

I burned Chase back in 2007. I could get a bank account, but, even ten years later I couldn't get a credit card with them. It was the same for me with Citi and Bank of America. Individual results do vary. 

 

So, it comes down to what you want out of a bank. If you just want a recognizable name on a debit card, then pick whichever one and most of them will probably let you have a checking account. Doesn't mean they'll ever give you any kind of loan product ever again. 

 

If you want a bank that will eventually lend to you again, that's more of a challenge. 

 

Honestly, I'm toying with the idea of switching all my banking to Capital One. They don't hold a grudge and they are huge.. lol

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Message 6 of 9
Regular Contributor

Re: Banking with Banks IIB

Nothing to do with vanity.  Thank you though for answering my question.  There is a ton of info on CC's ofcourse but wanted to know about the other side of the bank. The bank account side.  Obviously everyone's situation is different.  And CC's and bank accounts are different products.  Just didn't know if even getting a bank account will be an uphill battle like it will be with getting various CC's. Thank you!

Message 7 of 9
Contributor

Re: Banking with Banks IIB

I totally get what you are saying. My attorney told me that there was a chance that both Wells Fargo and Chase might close my Bank accounts. Neither one actually did, but I doubt I will ever be able to get credit from either one of them. I ended up switching my main account from Chase to NFCU and have not looked back. 

 

I opened my NFCU account when my BK was freshly discharged (it may have been still active but I'm not 100%). They seem happy to hold my deposits. Wells Fargo has never said anything but they did close my Secured Card and refund the deposit, event hough I had a $0 balance. That was disappointing but not unexpected. 

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Message 8 of 9
Regular Contributor

Re: Banking with Banks IIB

I’m burning USAA for 18k.
The advice I got from my paralegal was don’t bank with them DURING the the bankruptcy, because they can file motions with the court to freeze your account and take money out of it.
But after the discharge they can’t touch it. They don’t have to let you bank with them though.

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Message 9 of 9
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