ATM’s are charging more and more for withdrawals of cash, which are distributed to us in $20′s, which we then spend on little things here and there, and which we cannot account for later.  Here’s a great article on the finance blog getrichslowly.org on how overuse of ATM’s is a great way to lose your money, and 5 ways to quit your dependence on ATM’s.

If you have a Patelco Credit Union checking or savings account, and you are considering filing for bankruptcy, then you might want to consider moving to another bank.  Very recently, 2 of my clients with Patelco accounts discovered that they were blocked from using their ATM cards and accessing any online banking after they filed for bankruptcy.  Patelco forced them to go into a Patelco branch to access their money.  Not only that, but when my clients went to the branch, it was a big fuss, as the bank teller had to override Patelco’s computer system in order to access the accounts.  I don’t know if this is a new policy, but this is the first time I’ve ever heard of this issue with Patelco.

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Imagine this: your daughter dies and the bank comes after you to pay her student loans. That’s what happened to this family from Kansas, even though they didn’t co-sign for the loans. The most persistent lender, Wells Fargo Bank, gave up pursuing the parents after the parents spoke with a local television news station.

In general, when you die, your debts die with you. Neither your family members nor anyone else has a legal obligation to pay your debts after you die unless they co-signed or guaranteed those debts.

KCTV5 article via the Consumerist

Wells Fargo Bank checks bankruptcy cases nationwide to see if any of the debtors have checking or savings accounts with them.  If so, Wells Fargo freezes those accounts, and then notifies you and your bankruptcy attorney that it has done so.  The accounts will remain frozen until Wells Fargo receives a letter from a Chapter 7 trustee that the funds in the accounts are exempt from liquidation.  Depending on the trustee’s case load, it could take anywhere from days to several weeks for this to happen.  And during that time, you cannot access any of your money in those accounts.

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