Checking Acct CRC Question....
We have a crc ( cash reserve credit) with our checking account. We have 1000 limit and our balance is 1000. Do we have to include this in our chapter 7. Or can we just omit this? and If we do need to add this to our chapter 7 would the bank close our checking account or just cancel our CRC? thanks
It sounds as if this is similar to overdraft protection; if you want, you can take a "loan" of up to $1,000. If so, and you don't owe anything on it, it is not a debt, merely available credit. While it is possible that the bank would ask you to close your account if you file, it is unlikely. Speak with your bankruptcy attorney for more details. If you owe $1,000 on your line of credit, you have to list that debt (and all other debts) in your bankruptcy filing. You can't just list some and not list others.
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