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@Anonymous wrote:
Will NFCU freeze my account after filing my Chapter 13 ? I do have a car loan with them and i am going to reaffirm it 100% . My Social Security goes in my account and also my VA disability . I read they were sued years ago for doing this by the CFPB . I need to access my money to keep the lights on . Please Help . Thank you . A Disable Veteran
This link should help some and you need to post these type of questions in the BK forum, you will get more replies that way
Sorry but your bankruptcy lawyer should have told you about this. It’s in the fine print when you join a credit union. Only credit unions have this authority, unlike banks. It’s call cross collateralization. Call your bankruptcy lawyer immediately.
@Anonymous wrote:Sorry but your bankruptcy lawyer should have told you about this. It’s in the fine print when you join a credit union. Only credit unions have this authority, unlike banks. It’s call cross collateralization. Call your bankruptcy lawyer immediately.
Banks absolutely have the authority to do this as well. It’s the whole reason I left US Bank when I filed mine because I owed them money on a PLOC and credit card. I moved all my banking to a credit union before I let my friend file the paperwork with the court.
Yes, you’re right. From Edmunds;
”Banks also can have cross-collateralization clauses in their auto loan disclosures, but Keith Leggett, senior economist and vice president for the American Bankers Association, says he's rarely heard of either big banks or community banks making use of such a clause”