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We have not previously heard reports of banks other than WFB and Union
freezing accounts. Keith's email is the first time I have heard about
others engaging in this practice. Is this now our common experience? Are
there banks OTHER THAN WFB and Union who are currently freezing accounts?
Please note that freezing is different than a pre-filing setoff.
If banks are all starting to do this, then I will advise my clients to
withdraw all (or nearly all) funds before cases are filed so they have cash
to purchase food and other necessities. Before I take this drastic step,
however, I want to be sure that this is our common experience rather than
just a special or unique situation which was brought to Keith's attention.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Kenneth Jay Schwartz
Sent: Monday, March 16, 2009 2:40 PM
To:
cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Freezing accounts
One of the trustees in the Valley, twice in the past two weeks, has been
kind enough to fax over letters to WFB asking them to immediately release
the funds. This was done within 72 hours of the cases being filed, and
within minutes of us becoming aware of the freezes.
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, 12th Floor
Woodland Hills, California 91364-2203
Telephone: (818) 226-1205
Facsimile: (818) 226-1213
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