Redwood Credit Union cancels an auto transfer once the Member files bankruptcy, due to statutory requirements in the bankruptcy code. After the bankruptcy discharges, a Member may request that the auto transfer be set up again to pay their vehicle. The Member must submit the request in writing and include language such as:
“I (Member’s name), request to have my payment transferred from account #, share#, - to account#, loan#. I understand that RCU is not attempting to collect a debt by fulfilling this request. Further, I understand that I can cancel this request at anytime via written communication”.
All Members on the loan who have filed bankruptcy must sign the request.