I had a problem with an account about a year ago but have declared Chapter 7 about 6 months ago and wonder when I can open a bank account. Thanks!
2007-04-06 03:34:46 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you are in there system, it can also prevent from writing checks at retail stores. You will find that credit unions are a lot more forgiving on issues like that, so I would suggest opening a checking account at a local credit union and then getting a Visa or MasterCard debit cart. You can write checks to pay the bills and the debit card to make purchases.
Some clients have reported to me that Union Bank is somewhat flexible as well for people in your situation, if you have one in your area.
The link below is to an article I wrote on improving your credit after bankruptcy.
2007-04-06 05:43:35 · answer #1 · answered by Carl 7 · 0⤊ 0⤋
You are looking at a 5 year stretch. The bankruptcy actually wont have anything to do with it. You can open an account with that. But Chexsystems keeps you from opening one up.
If your chapter 7 included the bank that you owed, then even though you dont owe the money any more, you are still on there. It will show that they are paid.
As every bank is different, you will have to shop around to see who will let you have an account. Depending on the bank, some may not even let you have a savings account. Some only a savings & no checking. Regardless of if you use a check card or checks, you cant get either one without a checking account like some suggested.
It will be tough, but you just need to shop around. I would suggest calling some of the banks first to see their policy about chexsystems so you dont waste your time & inquiries (yes, they track those inquiries too).
2007-04-06 06:39:00 · answer #2 · answered by ricks 5 · 0⤊ 0⤋
With ChexSystems, you can stay on their "preferred list" for up to 5 years. While it wouldn't hurt to try your luck to get an account, I have another option that may work better for you.
AccountNow, is the perfect alternative to a checking account. There's guaranteed approval with no credit checks or with ChexSystems. Free Direct Deposit, a MasterCard debit card, and the best part online bill pay that build credit with PRBC, a credit bureau.
2007-04-06 03:58:38 · answer #3 · answered by Anonymous · 3⤊ 0⤋
Hmmm...is that for writing checks??
Open a checking account and get a debit card. Use the card instead of checks.
I'm sure someone at the bank would give you all the information you need!
2007-04-06 03:51:29 · answer #4 · answered by a kinder, gentler me 7 · 1⤊ 1⤋
In Minnesota I think its 2 years
2007-04-06 03:37:50 · answer #5 · answered by ROSIE 3 · 0⤊ 0⤋
In my very unfortunate experience it was 5 years. This may vary by states and localities.
2007-04-06 03:57:29 · answer #6 · answered by L W 1 · 0⤊ 0⤋
Seven years.
2016-05-18 04:19:49 · answer #7 · answered by chery 3 · 0⤊ 0⤋