What to Expect from Creditors When You File

Declaring Bankruptcy

Here is a list, alphabetically by creditor, of common actions the creditor will take.

Associated Bank

Will not make automatic withdrawal payments

Will not mail monthly billing statements

Online banking access will not be available during the bankruptcy.

Credit cards will not be honored.

Access to line of credit will cease.

American Education Services (Student Loans).

Know that federally guaranteed loans will have forbearance (refrain from collection) while the bankruptcy stay is in effect.

Know that privately insured loans may have forbearance at the owner’s discretion. Billing and collection will be suspended during bankruptcy procedure.

Repayment of the federal loans generally resumes when notice of entry of discharge or case termination under Chapter 7.Outstanding interest may be capitalized and will increase principal balance.

Associated Bank. Close your credit account and notify you by letter, no longer honor credit cards.

Payments will no longer be automatically withdrawn.

Monthly billing statements will not be mailed.

Will deny access to any line of credit.

Online banking access is not available during bankruptcy.

Citi will close your credit account and notify you by letter, no longer honor credit cards.

Dovenmuehle Mortgage, Inc.

Will send mortgage statements to you or your attorney for informational and compliance purposes only.

Harley-Davidson Credit Corporation. Will request present mileage on the collateral and will request proof that the collateral is properly insured. The binder or declaration page should show:

The designation of creditor as loss payee

The expiration date of the policy

The terms of coverage

The effective date of the policy

A description of the property insured

Summit Credit Union.

Will deny services if suffers a loss.

Will give 30 days to close checking account or it will close.

Visa check card will be cancelled immediately.

AmeriFirst Home Improvement Finance.

Will request permission to contact debtors directly for payments and to resume billing statements.