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As I am seriously considering bankruptcy I have started looking into bank accounts. My current bank account is with the thieving ******** at Lloyds TSB and I know this will be frozen. I also have a bank account with Nationwide which I haven't used for years. Would I be able to use this, or would that be frozen as well?

I understand that there are only 3 high street banks who accept bankrupts - Co-Op (I will try them), Barclays (Barclaycard are one of my creditors so I'm not sure if I could use them?) and Nationwide - if I have a frozen bank account with them can I apply for another one?

The other one I have found is Gregory Pennington - has anyone got an account with them, and if so what do you think? I don't really understand how a managed bank account works.

Thanks in advance for your help x

Onwards and upwards!!!
View my blog at: http://skippy13.blogs.iva.co.uk/

Hello Skippy

I do believe that if you have no credit facilities with nationwide you should be able to keep this, especially if it has a nil balance at the time the order is made. Nationwide are one of the three banks who accept undischarged bankrupts. I was also told that the OR gives you permission to open an account on the day of bankruptcy.

I hope this helps, best of luck with it, please let us know how it is going, we are all still there for you

LILY

Most people are able to obtain a basis bank account whilst bankrupt.

Although not all banks will provide basic banking facilities to undischarged bankrupts some banks do state that they will.

It is important to advise the Official Receiver that you have opened a basic bank account when you have your interview with him/her. Often the Official Receiver will not instruct the bank to close the account although the bank themselves may well take this decision themsleves.


There are currently 3 banks that state that they will provide basic bank accounts to undischarged bankrupts.

The opening criteria is declared in an FSA information publication entitled "Basic Bank Accounts - Your Questions Answered" In this publication the Co-Operative Bank, Barclays Bank and the Nationwide Building Society all state that only a 'record of fraud' should prevent an individual obtaining access to their basic bank account facilities.

http://www.co-operativebank.co.uk/servl ... ard&c=Page

Kind regards,


Julia


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