Navy Federal Checking/Savings post BK?

[workingthroughit]

Hi all,

Looking for any insight as to what will happen to NFCU checking/savings accts if we file BK on three NFCU credit cards ? We're considering Chap 7 BK  and were wondering if we should think about opening new bank accts for our direct deposits and bills or if NFCU will allow us to keep using our accounts.

Completely new territory for us, so trying to think through all our options.

Thanks!

[Pway]

If you are going to file and burn them, yes move your money to another bank or CU.  They can hold your money. 

[webhopper]

They will hold your money. If you surrender a car with positive equity, they won't turn it over to you or to the trustee, it will disappear into a black hole. If you have any autos financed with them, they will cross collateralize 

[Anonymous]

@workingthroughit  I recommend moving your checking and savings.

[workingthroughit]

Thank you all for your insight and info! We've got a couple of BK attys to talk to and see if that's the direction we need to go and appreciate all the help.