Maybe, but only if your account is currently in bad standing.
So if you have an open bank account with a positive balance and your car loans are current with that bank, then no, they will not freeze your account.
On the other hand, let’s say your account is in overdraft. Then they will freeze the account on the day we file. Or you may have a checking account with a credit union along with a car loan, and your car loan is behind, then they can freeze your account and even offset any monies in the checking account to pay the delinquent car loan.
I had a client call today who was worried that when his paycheck is deposited on Friday that he won’t be able to access his money. I talked to him about it, and it turns out that his car loan with that same bank is delinquent. I warned him that they may freeze his account, and then he won’t be able to access that recently deposited paycheck.
I will be able to force them to release those funds, because they cannot take funds post petition (after filing bankruptcy) to pay a pre petition debt which we listed in the bankruptcy, but it will be a hassle, and his money may be frozen for days while we try to work it out.
The safest way to handle this is to have an account with a bank or credit union somewhere which is in good standing (positive balance with no delinquent loans at the same bank). This account will still be good after we file bankruptcy. This is also a good account to use for payroll deposit.