Personal Bankruptcy Payroll Bank Account

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Down4theCount

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The company I worked for the past 9 years filed Ch 7 last week. The same day all the employees were told and only the employees were told, the bank for the company froze all their accounts, One of them being the Payroll account. No legal notices were sent yet and I think they froze it on a rumor of the bankruptsy. IS THIS LEGAL? :eek:
The following week I went to the MY bank to make a cash deposit and my new balance came out to be what I just put in. Upon further investigation thru MY bank, Two payroll checks That I deposited into my checking acount TWO WEEKS before the bankruptsy now returned as insuffientent funds. Is it possible for The company bank to stop payment or withdraw the funds in some way????? :confused:
What should I do with the company bank, Or is there anyway to recover these funds? Or is my only hope the bankruptsy lawyer who has not returned my phone calls?
 
Down4theCount said:
The company I worked for the past 9 years filed Ch 7 last week. The same day all the employees were told and only the employees were told, the bank for the company froze all their accounts, One of them being the Payroll account. No legal notices were sent yet and I think they froze it on a rumor of the bankruptsy. IS THIS LEGAL? :eek:
The following week I went to the MY bank to make a cash deposit and my new balance came out to be what I just put in. Upon further investigation thru MY bank, Two payroll checks That I deposited into my checking acount TWO WEEKS before the bankruptsy now returned as insuffientent funds. Is it possible for The company bank to stop payment or withdraw the funds in some way????? :confused:
What should I do with the company bank, Or is there anyway to recover these funds? Or is my only hope the bankruptsy lawyer who has not returned my phone calls?
You should check the agreement with your bank regarding items such as this. My recollection is that banks have a period of time which they can correct errors and make debits to your accounts. Did you contact the bank and discuss with them their justification for doing this? I'd be interested in hearing this (but I'm pretty sure that the length of time is within the terms of service and there is probably some state regulation on this subject.)
 
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