Bank Freezing Accounts> > Just heard my fir=
Posted: Fri Mar 06, 2009 9:43 pm
I'm just wondering...so someone shoot me down please...
I often thought of bringing a 362 action since the property is not part of the estate as a proper exemption, that not even the Trustee could attack, has been used to protect said property...now comes WF ---who not only destroys the status quo---but may jeopardize the debtor more then any garnishment or seizure...If a creditor or non creditor can seize property and turnover to whomever, is that not a per se violation?
Where am I so sadly mistaken?
To: cdcbaa@yahoogroups.com
Sent: Friday, March 6, 2009 9:38:38 PM GMT -08:00 US/Canada Pacific
Subject: RE: [cdcbaa] Bank Freezing Accounts
Wells Fargo freezes accounts because the money is property of the estate - it has nothing whatsoever to do with their being a creditor or not. They then wait for direction from the Trustee as to whether the Trustee wants the money turned over.
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.
n
argaret Norman
Sent: Thursday, March 05, 2009 11:17 AM
To: cdcbaa@yahoogroups.com; ashaghzo@gmail.com
Subject: Re: [cdcbaa] Bank Freezing Accounts
Is Wells Fargo for example, freezing accounts where the debtor owed
them money on a credit card or a line of credit? Or is the bank
attempting to prevent the debtor from creating overdrafts or bouncing
checks?
Margaret Norman
On Thu, 5 Mar 2009 16:32:28 +0000
ashaghzo@gmail.com wrote:
> I know someone in Union Bank's legal department. I had a discussion
>with that person regarding this matter a few months ago when the were
>trying to make a decision on whether or to freeze client accounts
>that had filed for bankruptcy. I can only infer that they decided to
>freeze the accounts the same as Wells Fargo Bank. Any other banks
>that are we should be aware of doing the same?
> Sent via BlackBerry by AT&T
>
> -----Original Message-----
>
> Date: Thu, 5 Mar 2009 08:16:26
> To:
> Subject: RE: [cdcbaa] Bank Freezing Accounts
>
>
> This needs watching. I have been having my clients not use Wells
>Fargo
> Checking and go to Union Bank. This is a problem if it continues.
>
>
>
> _____
>
>Behalf Of
> Jim Selth
> Sent: Wednesday, March 04, 2009 7:46 PM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] Bank Freezing Accounts
>
>
>
> Union Bank did it last month for one of my clients, as well. A
>whopping $17
> was frozen.
>
>
>
> James R. Selth
>
> Weintraub & Selth, APC
>
> 12121 Wilshire Boulevard, Suite 1300
>
> Los Angeles, California 90025
>
> Telephone: (310) 207-1494
>
>Facsimile: (310) 442-0660
>
> E-Mail: jim@wsrlaw.net
>
>
>
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> _____
>
>Behalf Of
> David A. Tilem
> Sent: Wednesday, March 04, 2009 3:01 PM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Bank Freezing Accounts
>
> Just heard my first case where a bank other than Wells Fargo has
>frozen a
> debtor's account post filing.
>
> It's UNION BANK of CALIFORNIA. It may be a little premature to
>sound the
> alarm bells, but be on the lookout and let us all know.
>
>
>
> 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.
>
> Business bankruptcy specialist cert. by Amer. Bd. of
>Certification
>
>
>
>
>
>
>
>
>
>
>
Margaret Norman, Attorney
111 N. Sepulveda Blvd. #355
Manhattan Beach, Ca. 90266
310-376-7873
Fax-310-798-9846
WWW:Margeslaw.com
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p { margin: 0; }I'm just wondering...so someone shoot me down please...I often thought of bringing a 362 action since the property is not part of the estate as a proper exemption, that not even the Trustee could attack, has been used to protect said property...now comes WF ---who not only destroys the status quo---but may jeopardize the debtor more then any garnishment or seizure...If a creditor or non creditor can seize property and turnover to whomever, is that not a per se violation?Where am I so sadly mistaken?em@TilemLaw.com>To: cdcbaa@yahoogroups.comSent: Friday, March 6, 2009 9:38:38 PM GMT -08:00 US/Canada PacificSubject: RE: [cdcbaa] Bank Freezing Accounts
Wells Fargo freezes
accounts because the money is property of the estate - it has nothing whatsoever
to do with their being a creditor or not. They then wait for direction
from the Trustee as to whether the Trustee wants the money turned
over.
David A.
Tilem
Certified Bankruptcy
Specialist*
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