Great info F.
I have a question. I am only starting to clean up my CR. I had a secured car loan from a Credit Union for 16K. The remaining balance so far is 8K. Haven't made any payments on the vehicle in more than a year now. This is by far the largest debt I have. All others are in the hundreds. I was expecting the bank to repossess on the car, so I stopped driving it and got me an old one. (all paid for) However it did not happen and this is because they could not locate me. I have stopped all kind of correspondence with them. I also moved twice to a different states. (due to work)
Anyway, this is the thing that worries me a bit. I have always planned to pay these people, but they never give you a break. You have some emergency in life, you miss a $400 payment. Next thing they are asking for $800 with an extra $100 LF, then it's $1450, then you are like: OK YOU GOT ME. I give up.
I know they may seek a judgment, but on my CR, they only state that "unable to locate debtor- charged off as bad debt- profit and lost write-off" And they state: Amount past due is approx. $4k. No collection Agencies (my lovely friends) were involved so far in this debt. This CU has its own in-house collection office.
I know they may sue me and that's why I am asking this question about bank accounts. I am in the military, and these people know this. Now Flying (OP) stated that we should be careful with our bank accounts, and maybe get one very far away from where I live (online account). I have a USAA account which is an online account. It is merely for military people. Do you think it would be a wrong idea to keep a direct deposit to this account? They may just say: well hold on! This guy is in the military; let's check all the banks that work for the military.
I am also postponing updating my address until I have a strategy to deal with this creditor. They are a small Credit Union, but really very inflexible. Tough to deal with and I don't want to call or write them until I have at least 2K or more put aside for a settlement.
Finally, your help is appreciated and any suggestions or opinions about my situation are more than welcomed.