Are there banks that will work with people who are bankrupt and have bad credit?

Question

I am looking for a bank (FDIC) that will allow me to get an account so that my paycheck can be direct deposited.

Answer 1

I am not sure about the banks because I have no experience with the american system.
In the UK there are several levels of current accounts (the top level is where you are given a full cheque guarantee card (usually a full visa), this is for people who have a regular income and a reasonable credit history, no CCJ's or bankruptcy.
Next level you usually get a Visa Electron card or equivelant. It means that everytime you use it the shop asks the bank electronically wether there is enough money in your account and if there is then you can buy it. It makes sure you can never go overdrawn. You will get this type if you have a bad credit history or no fixed regular income.
And finally if you are completely useless or really young you just get a cashcard, it allows you to get money out of the wall but not pay for things electronically.

There might be a similar system in the US. Just ask the banks. Dont be afraid to ask, you might be suprised at the options open to you.

There might be another option open to you though.
Have you ever heard of prepaid credit cards?
We are just getting them over here. I think they are aimed at kids over there, but they are a good idea for those in your situation.
Basically it works on the principle that you get one of these cards, they are usually run by banks or big companies as diverse as supermarkets (like walmart i think you have over there) or radio stations. You can never go overdrawn because it deducts money from the money paid into the account.
There are fees associated with these cards so shop around.
There is no credit check, you only have to prove that you are you, so a passport, driving licence etc... They then send you a card (you will have to pay for it but its not much.) Its usually a mastercard or full VISA.
Then you let who you work for to pay it into the account that goes with the card. Its dead easy to do this.
Sometimes there will be a limit of a few thousand dollars that you can have on the card but it should be a huge problem.
This card allows you to pay for things, and to get cash out of hole in walls. (ATM's I think you call them). You might be charged a small amount for this.

I know what the system is in the UK for these cards, but not a clue in the US. I cant find anything on google, it just comes up with the UK options. I know they are common in the US and are aimed at teenagers, shouldnt be an upper age limit though.
Just search for - prepaid credit cards.
Very important about the prepaid bit.

Any questions just ask.

Answer 2

Try your credit union they are a little easier to work with. Banks don't pull credit reports to open accounts as far as I know. They use a system that reports bad check writers so they don't let them take advantage of them.

Answer 3

Lots of people think that once they’ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn’t always true, there are always ways to improve your financial standing, and there are also ways to repair your damaged credit rating. For More information check out the site.

Answer 4

you will be able to get a basic bank account but no card . No overdraft or credit at all . your salary or finances can go in automatically ,,You might get a card to draw cash fom a machine , but not to buy goods with , You can not take out more money than is paid in ..