People often ask me how to get a refund when a flight goes belly-up. Belly-up covers drama from Sandy or that Nor'easter-when airlines are the ones canceling flights-to you falling ill and scrubbing your own trip.
It may be that the company placed a block â or a hold â on your card for the estimated total of your bill. Merchants use blocks to make sure you have sufficient funds to pay your bill. If youâre near your credit limit or you have a low balance in your bank account when a block is placed, your card could be declined for additional purchases. To avoid surprises at the cash register, ask your card issuer and the merchant if they use blocking.
If the funds in the account are exempt (meaning the trustee cannot take them) and you don't owe money to the bank (for example, you don't have a credit card with that bank), you'll likely be able to keep the checking account. You may be able to keep your checking account when you file for Chapter 7 bankruptcy.ach state has its own laws on bank set-off. If you think you may have to file for bankruptcy, it's often safest to have your checking account at a bank that is different from the bank that you owe money to. Most banks allow you to keep your checking account if the bankruptcy does not affect the bank.