Life after Bankruptcy

Adverts for other sites and/or companies will be deleted

Posted by Colin : November 29th, 2007

Can anyone advise me of a bank who will allow a Debit Card to a discharged bankrupt? I am currently with Nationwide, who will set up accounts for bankrupts to facilitate direct debits and standing orders, but I was hopeing that after discharge from bankruptcy that they might allow me a Debit Card to make paying for goods more convenient. This seems not to be the case as they have just refused my request, on the grounds that Debit Cards are considered to have a credit facillity attached to them (purely from a payment guarantee point of view, not in actual credit terms) and due to my bankruptcy I now have '0' credit rating and therefore no credit cards or Debit Cards are allowed. Seems a little harsh when your attempting to put your life back together. Has anyone any views or advice to offer on this subject?

debit cards

Thinkbank get good feedback that much I know, they are used by Gregory Pennington. Each bank you go to have different attitudes to bankrupts and discharged bankrupts, Even branches differ as some of them, and Nationwide is one of them, consider running these' bad credit types' accounts as costly withno benefit and it is possible that like every other aspect of the financial industry there is a target behind the refusals. There is a human element to it and some don't want to open them evene if their bank does do it. Whatever facilites you ar given check thouroughly it meets your needs. sound obvious but so many people make assumptions about what it is they are getting There are a number of of pre pay credit cards on the market , shop around, if you want facility for internet or phone payments then these are comparitively safer than a debit card that you can use in astore What type of spender are you? If you go into tesco with cash you can only spend that cash, if you have a debit card you can spend more, please review what happened to get you into bankruptcy if applicable. I assume you are not subject to a Bankruptcy restrictions order, but if you are check that facilities granted comply. Best of luck

Posted by: bluesky

Discharge but DSS chasing 10 year old debt

I declared myself bankrupt in December 2006 and was dis-charged in July 2007, however my local beneits agency are chasing me for a debt which was incurred in 1996 - 1997. I only received notification of this debt in June 2007. I advised them I had been made bankrupt and was told to send proof of which i did. Unfortunately even though i have sent the information requested they are still chasing me for this balance, I have now been told that this is payable as this was not stated in my bankruptcy order ( this ws not listed as i was unaware of the debt, due to it taking the benefits agency over 10 years to advise me even though they had my details). Can you advise me if I will have to pay this or if you are aware of any procedures I can take to dispute this debt. Kind regard L

Posted by: Lms

CONSIDERING BANKRUPTCY

Ive tryed to go down the IVA road but with what was left after debts and bills there wasnt enough left so that wasnt really an option. So how do i go about declaring myself bankrupt? This is really woring me because my partner is pregnant and due in may and we wont have wage then so things will be even worse. The only assets i have is a car which to be honest i really need to travel to work is there any way of getting around it so i wouldnt have to give up the car?

Posted by: mattevo2685

the car will be exempted

the car will be exempted from the estate only if it is used for work , looking for work or is of essential need to domestic circumstances and not just more convenient that you have a vehicle. There has to be no reasonable alternative either such as public transport. if the vehicle is worth more than £3k than it may be in the interst of the OR to sell it and give you £2k to buy a replacement, this money willonly be given to you if the vehicle would be exempt, if it is not the whole amount will vest in the estate. An alternative is that you may make a third party offer for the vehicle, buying the OR interest in th vehicle, eg, car worth £1000 not exempt, deduct costs for pick up and sale at auction and value more like £700, you make offer.

Posted by: bluesky

Hello

If the car is of a reasonable value and you can give a realistic reason as to why you need the car then they may let you keep it although at the end of the day it is down to the official receiver. For more information about Bankruptcy and the procedures call DAT they will give the advice you need.

Posted by: understanding debt

Discharged from bankruptcy mortgage

Can anyone advise me on a good mortgage company that will consider people who have been bankrupt but are now working in a secure job.

Posted by: Lolls

Hello Lolls

The best thing that I could suggest is going to a mortgage broker rather than one company, the reason being, a mortgage company would run a credit check and if you weren't successful it would show on your credit file. The more companies you go to the more searches will show on your file basically damaging your credit file. If you go to a broker they will run a check and then approach possible lenders. First Choice Finance are a good broker to deal with.

Hope this helps

Posted by: understanding debt

mortgage

I trust you have made absolutley sure that you can afford a mortgage and have considered every problem that may occur to wreck things again. I would advise that you research comments on thenet re the company you consider if you get a choice. There are companies out there that aim their mortgages to repo your house, some sell the mortage on and the terms change , kensington and derbyshire for eg, Please remember tha getting into high stakes financial transactions after a bankruptcy may not be the best option for everyone, weigh up what it means to you if it failed

Posted by: bluesky

Hello Colin

Please find below a list of Banks I believe have Debit Cards (either solo or electron) with there basic bank accounts

These should all have bank accounts available to people who have been discharged from Bankrupcy. Hope this helps

Posted by: debt answers

Bank account

xThe coop cashminder account is very good. You do get a vias electron card chip and pin which allows you to buy in shops and on the internet. So you will be able to spend your money like everyone else. Oh and you can do internet and telephone banking. They are very strict if you misuse your account 3 times without credible reason your account will be closed.

Posted by: Lolls

Debit cards for Discharged bankruptees

Hi Colin, As I've recently been discharged, I've found an account with ThinkBanking, part of the RBS. They do not run any credit checks and garantee you'll NEVER recieve a bank charge. The way they do this, is to have your salary paid into one account and then hold all the money which you have going out, ie direct debits and standing orders. Then then transfer the balance to your card account for you to spend as normal. You recieve a full Maestro card which you can use for chip and pin and on the internet. One draw back, are their fees, it cost £12.50 per month. But it maybe worth a look. Hope this helps Scott

Posted by: scttrose

Welcome to Debt Free Advice forum, please register if you want to post