Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By ricardot
#219381 hello all,
as some of you may have read on a previous thread, i am currently in an iva and it is looking likely that it will fail within the next 2 months.
if i do eventually petition for bankruptcy, will i need to open a basic bank account before or after iv'e petitioned and as im in the iva, is it likely that i will struggle to find a bank who will accept my application due to my current situation?

any advice is much appreciated

User avatar
By JaneClack
#219382 Yes, I am afraid it is unless you have no debt associated with these two banks - Co-operative and Barclays as these are the only two who currently offer bank accounts to non-discharged bankrupts.

If you are in an IVA you should have a basic bank account and the bank may allow you to keep it after bankruptcy but it cannot be guaranteed. We do see it happen but there are no guarantees.