Written by attorney, Carlene Simmons

Many clients are curious during an initial consultation as to why we ask where they bank, but to an experienced bankruptcy attorney this is a vital question when paired with the question “do you owe them any money?” In the typical timeline leading up to a bankruptcy filing our clients discontinue all payments to unsecured creditors. When a client discontinues payments on credit lines to the bank where their money is kept on deposit, the bank will often make a setoff where they begin taking automatic withdrawals from available funds to cover the missed payments. This is done without notice and often leads to catastrophic overdrafts and returned checks. The client then finds himself in a situation where that “fresh start” just became more difficult to obtain.

We often counsel clients who have their accounts with Wells Fargo to move their accounts to another institution before filing bankruptcy. Wells Fargo has built a reputation for freezing personal and joint bank accounts, even accounts where the joint owner did not file for bankruptcy protection, once they receive notice of a bankruptcy. This causes enormous stress and unnecessary headaches for clients who were only seeking relief from financial burdens that had become out of control.

These are just two example of how receiving advice from an experienced bankruptcy attorney can help you to get the relief that you need.

If you have questions about bankruptcy, we encourage you to attend one of our free seminars or contact us at 800-899-2730 for a free personalized consultation. For more information about our seminars please visit http://www.freearizonabankruptcyseminar.com/.