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Wells Fargo is Freezing ALL accounts for Chapter 7 Debtors

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I just found out that Wachovia froze my business checking account, because I filed chapter 11 bankruptcy. I’ve been reading a lot of articles and none of them mention Wachovia freezing accounts when you file chapter 11. All the articles I read so far are stating that Wachovia will freeze your account when you file chapter 7.

How long before Wells Fargo freeze my bank account after filing chapter 7? (I don’t owe any money to this bank). I filed chapter 7 on January 28th. Have a court date coming up in about three weeks..

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Aeropostale filed for Chapter 11 bankruptcy protection earlier. At the time of its filing, Pacific Sunwear owed $160 million to Wells Fargo (WFC) and private equity firm Golden Gate Capital. "When.

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As many chapter 7 debtors and their attorneys are finding out, Wells Fargo has. As it turns out, Wells Fargo receives a daily update of all customer bankruptcy. In In re Young, Wells Fargo froze three of the debtor's accounts.

Chapter 7 Debtors- WELLS FARGO FREEZING BANK ACCOUNTS! Here is the scenario: On the date of filing bankruptcy, the Debtor has checking and savings accounts with Wells Fargo Bank, N.A. The Debtor claimed the Accounts as exempt in his Schedule C filed with the petition.

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Although Wells Fargo appears to be the only bank freezing chapter 7 debtor’s bank accounts, other banks may follow suit. Accordingly, it is incumbent upon chapter 7 debtor’s attorneys to explain to their clients the potential risks that their accounts may be frozen for a period of time following the filing of their bankruptcy.

Economic Collapse News - Wells Fargo Can Liquidate Customer Accounts All About Bank Bail In's Funding for Chapter 11 Cases/Working Capital Requirements: The Debtors will. party thereto., and Wells Fargo Bank, National Association and PNC Bank, National Association, as Syndication Agents.

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If you are considering bankruptcy, I would advise you to close any bank accounts you have with Wells Fargo.

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