Declaring bankruptcy is unavoidable for people who fail to pay their huge debts.
After becoming bankruptcy, there are many consequences they need to face.
First thing first, their credit scores will be badly affected.
Secondly, they can't own assets.
Thirdly, they face difficulties in opening bank account.
Fourthly, it may be hard for you to look for a better job as many employers are concern about the credit reports of their new employees.
It is indeed unfortunate if you face the same problems that mentioned above.
It is totally inconvenient for you to handle your daily activities if you can't have a bank account.
You can't pay all your bills with checks and you can't make any payment online.
Is there any way to make your life easier? Seriously speaking, you still can open a bank account after declaring bankruptcy.
Let me share with you some practical tips.
· Look for the right financial provider When your credit rating is very low, you are advised not to look for help from traditional banks.
You are recommended to look for local credit unions or smaller banks for assistance.
You must make sure that you look for banks which don't use ChexSystems as their verification system.
In UK, if a bank is using ChexSystems, your chance to open a bank account in the particular bank is zero.
Hence, you need to spend your time doing some research.
· Purchase a certificate of deposit In order to open a checking account successfully, you need to put up collateral.
How can you do that? You need to purchase a certificate of deposit with cash and request the banks to allow you to open a checking account.
Since you have fund in the banks, the banks will not reject your request.
· Sign up for a second checking account If you are not qualified to open a traditional checking account, don't worry.
You can sign up for a second checking account.
In order to get this account, you need to bear certain costs.
You need to pay a lump sum of fee and there is one condition you need to fulfill, i.
e.
maintaining a fixed amount in your account.
In general, for people who have used the second account for a year without any problem arises, they can request their banks to allow them to open a regular checking account.
· Attend classes Why do you need to attend class? In general, there are many financial providers who encourage people with credit issues to attend classes.
These classes are customized for people who are poor in managing their finances.
They will only be allowed to open a new account after they have attended the classes.
To sum up, being a bankruptcy doesn't deter you from opening an account.
By applying the smart tips above, you will be able to open either a saving account or checking account easily.
You are reminded to take this golden opportunity to rebuild your credit.
Always make sure that you have cash in your account.
After becoming bankruptcy, there are many consequences they need to face.
First thing first, their credit scores will be badly affected.
Secondly, they can't own assets.
Thirdly, they face difficulties in opening bank account.
Fourthly, it may be hard for you to look for a better job as many employers are concern about the credit reports of their new employees.
It is indeed unfortunate if you face the same problems that mentioned above.
It is totally inconvenient for you to handle your daily activities if you can't have a bank account.
You can't pay all your bills with checks and you can't make any payment online.
Is there any way to make your life easier? Seriously speaking, you still can open a bank account after declaring bankruptcy.
Let me share with you some practical tips.
· Look for the right financial provider When your credit rating is very low, you are advised not to look for help from traditional banks.
You are recommended to look for local credit unions or smaller banks for assistance.
You must make sure that you look for banks which don't use ChexSystems as their verification system.
In UK, if a bank is using ChexSystems, your chance to open a bank account in the particular bank is zero.
Hence, you need to spend your time doing some research.
· Purchase a certificate of deposit In order to open a checking account successfully, you need to put up collateral.
How can you do that? You need to purchase a certificate of deposit with cash and request the banks to allow you to open a checking account.
Since you have fund in the banks, the banks will not reject your request.
· Sign up for a second checking account If you are not qualified to open a traditional checking account, don't worry.
You can sign up for a second checking account.
In order to get this account, you need to bear certain costs.
You need to pay a lump sum of fee and there is one condition you need to fulfill, i.
e.
maintaining a fixed amount in your account.
In general, for people who have used the second account for a year without any problem arises, they can request their banks to allow them to open a regular checking account.
· Attend classes Why do you need to attend class? In general, there are many financial providers who encourage people with credit issues to attend classes.
These classes are customized for people who are poor in managing their finances.
They will only be allowed to open a new account after they have attended the classes.
To sum up, being a bankruptcy doesn't deter you from opening an account.
By applying the smart tips above, you will be able to open either a saving account or checking account easily.
You are reminded to take this golden opportunity to rebuild your credit.
Always make sure that you have cash in your account.