business banking for undischarged bankrupts

leisure

does anybody know how i can get a business bank account in the uk when you're an undischarged bankrupt

kevker

Would this be for a limited company?

leisure

Either I suppose, i've been and am a sole trader, but i understand i couldn't be a director of a ltd company anyhow

jellycat40

We found it impossible to open a business bank account when my husband was declared bankrupt. As a bankrupt you cannot sign company cheques and as you say you cannot be a director. If you are a sole trader you don't need a company bank account though only one in your name. So if your name is Joe Bloggs and your Company is J Bloggs Associates then you get people to make cheques out to Joe Bloggs. You will become Joe Bloggs t/a J Bloggs associates.

For this you would only need a basic bank account. You won't get a business overdraft or credit card due to your br status.

However when you are discharged it all changes and you can become a director of a ltd company and you can start to apply for credit. My hubby was discharged last April and has just been granted a credit card for fuel and hotels with a credit limit of £500 which he will pay off each month if he puts anything on it. We need to repair his credit rating as we will want to move to new rented accommodation and on top of that it would be nice if he could sign his own company cheques.

Louise