recently been declared bankrupt, how soon can i have a bank account? what happens next?

Answer 1

i think five years

Answer 2

hi, (ANS) My recognize-how is that when you have been formally declared bankrupt ANY of the x4 massive clearing banks would desire to take you on. yet they'll purely furnish you a common present day account with out any linked credit centers i.e. in all probability no overdraft. **you will purely get a cheque e book yet you very almost particularly wont ever get a credit card. you will in case you fortunate get a debit card because of the fact with a debit card you are able to't spend greater suitable than is unquestionably interior the account. **the only situation you will face is that (the above became into easily a real situation previous to the credit crunch & economic crash of the banks). the present state of turmoil interior the broader banking equipment would recommend that banks have replaced their words & circumstances and so could be greater unwilling than interior the previous to handle a individual who they now evaluate as a severe or bigger possibility. that's the main element that could nicely snooker your probabilities of having a clean economic institution account. **The banks themselves are in a large number i.e. have a funds flow situation and that's in particular why credit centers have dried up. Banks are nevertheless wanting to rebuild their own stability sheets & credit worthiness and that's why they are not offering any credit to every physique. Ivan

Answer 3

I just went through this. Once your bankruptcy is discharged most credit unions will let you open a checking account. Most banks should also as long as your name isn't on check systems. I was able to get two credit cards to re-establish my credit within the first 90 days after filing. You need to start by getting just one card and making the payments on time, every time. It's really embaressing but my credit score when I filed was 470 and in less than a year I brought it up to 698. Also, I have subscribed to truecredit.com, and I check my credit on a daily basis (your score won't drop if you check it). They also give you all three reports and all three scores for about $14 a month. You will be ok, just take it slow. :)

Answer 4

You can't open a bank account in the uk if your are bankrupt.

You may be able to once it has been discharged for a length of time, but even then you wont be offered any facilities, just a simple account.

You could open a savings account with a cash card although you would have no direct debit facility or anything, but it would probably accept wages or benefit payments.

Answer 5

According to an article I spotted on Fool.co.uk the other day (leading financial website), you can open an account immediately...... but only a "Basic Bank Account", and there's currently only 3 banks who will accept people who are bankrupt.

Fool.co.uk - BANK ACCOUNTS FOR BANKRUPTS
http://www.fool.co.uk/news/get-out-of-debt/ivas-and-bankruptcy/2007/03/01/bank-accounts-for-bankrupts.aspx

Answer 6

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Answer 7

Don't know where you are located, but US Bank will let you open an account. You should check the banks in your area. Also check with credit unions. They are more flexible.

Answer 8

you can have a bank account now! there is no shame do you really want one they are ripping us off with charges!! i am a discharged bankrupt i have a halifax building soc acc that works just like a bank acc with no charges.

Answer 9

.Again UK

You will be allowed to open a Bank Account when you have discharged your Bankruptcy.