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Credit Union Holding Funds!

Mrscollins425
New Member

Credit Union Holding Funds!

So I burned my credit union with my personal loan and credit card through them. The only thing I didn't burn was my card, only because it was co-signed. So now they are holding all my funds in my account, won't let any ACH going through or withdrawals. I am glad this was not my only bank, but it does hurt because there is money in there for bills that are not getting paid like they should on time. So I have switched the majority of my bills to my other account due to this. I really didn't think they were going to do that. Even though I have heard stories about credit unions locking account and closing. I don't know if they will close the account due to my car payment that comes in. I can kind of careless if they do, I just want my money out. I had my 341 meeting and they are still showing my credit card active, still adding interest and late fees and my personal loan. 

5 REPLIES 5
SSH0126
Established Contributor

Re: Credit Union Holding Funds!

Not sure why it wasn't believable? Smiley Frustrated Hopefully you  get everything switched quickly its not a game and you read  about it before it happened unfortunately. I wouldn't leave money that I could not live without just for someone to potentially hold it and you needed it for bills. 

Message 2 of 6
Mrscollins425
New Member

Re: Credit Union Holding Funds!

If I could screen shot my online banking I would. My lawyer is going to check into this because of how slow they are to getting things closed properly. And I have friends who went through bankruptcy with that bank and never had those issues. So yes was I dumb you bet. And it was only small bills that were coming from that credit union Nino, but still annoying because I don't like to be late. But it's true and it's happening!
Message 3 of 6
SSH0126
Established Contributor

Re: Credit Union Holding Funds!

yeahs you should have just taken the money out though. you had your 341 already so that was at least 4 weeks of time plus any time that you knew that you were actually going to file but good luck.

Message 4 of 6
Scupra
Super Contributor

Re: Credit Union Holding Funds!

Ughh, hope you get it figured out asap!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
759 EQ FICO 03/2021
754 TU FICO 03/2021
743 EX FICO 03/2021
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Message 5 of 6
harleygirl1987
Frequent Contributor

Re: Credit Union Holding Funds!

From my experience working in Credit Unions if you cause us a loss, and have funds on deposit they would offset them. Generally it's at the time we find out your filed BK by either the court order, or a member walking in and telling us then wanting to withdraw all funds and we would have to say SORRY, but we're keeping those. I haven't seen anyone hold funds after the fact, however generally most credit unions will close your account/membership if you cause them a loss and you can't continue to have relations with them. Hopefully your attorney can help.

Ch7 BK filed 7/5/16, DC 10/12/16
Message 6 of 6
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