Bankruptcy vs Seniors

June 12th, 2011 by Questions

In your advice to seniors you suggest to change banks, does this mean to change the actual bank, ie RBC to Scotiabank or to just change to a different Branch with a different account number. Is it necessary to do this even if I’ve never authorized Automatic Withdrawal to the creditors but simply paid them through internet banking directly from my bank by me just like I pay the utilities.

Thank you for your response.

Posted from: Ontario


One Response to “Bankruptcy vs Seniors”

, A licensed trustee said:

We strongly suggest you switch financial institutions if you are in anyway indebted to the bank you currently deal with. If you are not indebted to your current bank in anyway (no credit cards, lines of credit, loans, over drafts, etc, etc) then you don’t need to swtich banks – you just need to put stop payments on any automatic payments you may have authoirzied other banks to take from your account.

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