Bankruptcy puts an individual in a very awkward situation. As if you declared bankrupt you have to lose almost everything that has your name including your bank account. But as soon your bankruptcy period discharged you will be able to grow and regain your credibility. However, for that first of all you have to open an account to show your worthiness. Bank accounts after bankruptcy give you an opportunity to open new bank account without any hurdle.
Banks have specially designed these sorts of accounts to provide a second chance to people tagged with bankruptcy in their credit history. These bank accounts works almost same like normal bank account and helps account holders to bring bank their financial position in the market.
These bank accounts after bankruptcy are filled with numerous advantages and services that prove to be quite beneficial our bank account holder:
* Provides almost all basic banking services
* Helps to rebuild your banking history
* Enables you to make direct debit to your utility bills with which you can take advantage of discounts and save money
* Helps you in maintaining your budget with direct debit facility
* Low and affordable account opening and monthly fee
* Free and regular updates from bank
* Cash cards that make shopping easier and allow you to withdraw small cash
* Phone and online banking facility
* No unauthorized fee charged on overdraft and late payment
Financial institutes appoint personal money manager with bank accounts after bankruptcy. He/she helps the account holder the make the required steps to regain its fiscal status and fulfil its monetary commitments.
With these accounts you can also eligible for the loan amount. But for that you have to prove yourself trustworthy account holder. You can do so by build up your savings and by avoiding much spending. For that you can also avoid overdrawing and bouncing cheques. Your manger looks at your all transactions and helps you to get further loan amount.