Filing for bankruptcy can be very difficult. It’s emotionally difficult, embarrassing but most of all it places extreme limitations on your financial well being that make it difficult to do regular things like buy a house, buy a car, get a cell phone or even open a checking account. Fortunately there are banks that will give you a checking account after bankruptcy, but they can be difficult to find and you may need to jump through a few hoops to do so. Here are a few suggestions that might make it a lot easier to find a bank that will work with you.
First try credit unions before applying for accounts with banks. Many times credit unions will be a lot more lenient than banks when it comes to handing out checking accounts so you might be able to plead your case a little bit easier. Credit unions do come with limitations though, you may have to live within a certain area, work for a specific company or even worship at a specific place to be able to open an account with them. A credit union checking account has all the benefits of a bank though so you won’t lose anything working with them instead.
Next try enrolling in a consumer credit course. Some banks will decline your application automatically thanks to a system known as Chexsystems that reports bad credit to banks. Others will allow you to discuss your situation before rejecting you and if you can show that you are taking steps to turn your credit around by taking a course then this will reflect favorably on you. It may not always work but it will always help.
Lastly, if all else fails ask to speak to the bank manager and tell them that you would like to open a certificate of deposit (CD) but you will only do so if you are allowed to have a checking account with them. Banks are interested in signing you up for CDs and they can use it as collateral should you fail with your checking account. Many bank managers will be happy to sign you up, but of course you need to have the money to buy the CD in the first place that not everyone has. If you can’t afford a CD try asking for a savings account first and then ask for a checking account once you have a positive working relationship with the bank.
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