So.... Indymac is bankrupt.....college funds..... gone.....?

Question

Basically, my mom put my college savings in the bank account she has gathered for 13 years. The account had like 220k. Indymac only lets me salvage 100k. Is there a way i can dispute to retrieve the other 120k?

Answer 1

Call the FDIC now at 866-806-5919 and make an appointment to speak with a claims agent.

Is this money in a joint account, perhaps? If so, you would be covered up to $200,000.

FDIC is making an immediate payment of 50% of uninsured funds. The balance will depend on how much they salvage ftom sale of the bank.

Worst case scenario you will get 100k (FDIC insurance) + 60k (1/2 of uninsured amount) = 160k