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I am Bankrupt Can I Open a Bank Account

by Jim ONeil on May 18, 2011

in Bad Credit History

Unfortunately, in today’s economy, bankruptcy is a harsh reality for many people. After dealing with the trials and tribulations of going bankrupt, these people often find themselves in the very difficult situation of needing to open a new bank account to handle their daily finances.

The question here is if you have a low income and little excess funds or you have actually been declared bankrupt.

If a person is faced with making little money, having bad credit, and needing to establish some sort of credit and bank account, there are a variety of choices they can pursue to help get their financial situation righted.

If they have actually been declared bankrupt, this is an entire matter altogether.

There are only a few choices for accounts in this case. The Co-operative Bank Cashminder and Barclays Cash Card are two options available that we could find right now. Both of these accounts will have severe restrictions and not offer the flexibility that a regular account would offer.

The providers go to great lengths to protect themselves against any possible future challenges with someone who has gone bankrupt. Our advice would be to open up one of these accounts, adhere to your balance, and start the rebuilding process as soon as possible.




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