Business bank account...

not_Dave

Hi, a two-part question...

1. Does anyone know of a bank that'll allow a former (2009) bankrupt to open a business account with them? Have tried Natwest and the Co-op thus far and have been dismissed out of hand - I don't want (or need) any kind of credit facility.

2. I never bothered getting my Certificate of discharge, i saw it as an unnecessary expense at the time, would anyone know if it's possible to obtain the certificate now given that i went BR in 2009? - I downloaded and have retained copies of the discharge notice or whatever it's called via the insolvency website when it was published online but have since been told that it's largely worthless.

arcon5

You come use cashplus if all else fails. It's a one off fee if about £30 and works like a prepay card but you have facilities for DD SOs etc

obcomp

I have a business account with Barclays (BR Dec 2007) but recently tried to open a Ltd co account with HSBC and we were declined surprisingly. I have two credit cards, a business overdraught and have a vehicle on main dealer finance so I wasn't really expecting to be rejected.

One thing I have seen and am going to apply for a Nat West foundation business account which seems to be for start-ups so their criteria may be a little more relaxed. They also provide free banking for 2 yrs. We want to start trading through our Ltd co but can't at the moment because I can't open a bank account!:mad:

capeverde

Have full personal and limited company accounts with Lloyds, again with all relevant cards and cheque books. I was discharged in 2011. Never had any problems with banking.

obcomp

Well on the off chance, I called Co-op who I bank with now and they said they wouldn't provide a business bank account until my 6 years was up! Again, surprised as I have had my income paid into that account for the passed 5.5 yrs without straying overdrawn. At least they didnt credit score me and told me upfront.

Next is Nat West ... not sure about Lloyds TSB as I had an account with them which shows late payments 4 months after my BR date ... even though I wasn't in control of the account at that point as I had no cards or access to it!

not_Dave

Thanks for the input folks. Spoke with Lloyds yesterday and have a meeting arranged with a business manager on Thursday. Explained about my BR but added that my Experian credit score is nigh on perfect (added that i hadn't checked Equifax) and he explained that he's at least willing to sit and have a conversation whilst he conducts his searches, we'll see what gives. Can't use Natwest as that's where my original account defaulted and they won't consider such a thing.

Is it me or does the law in this country need a kick up the ....?

As a Director of a Limited company, you enjoy limited liability and can act with virtual impunity (in relative terms) if your business gets into bother, you wind it up and start over the following day having dumped your debts more or less overnight. As a sole trader, you get slaughtered!

I'm bitter, two Ltd. companies went down owing me a combined £40k that i couldn't cover, as a sole trader i took the hit, lost my house, my car, my wife and my credit rating as a result, both of those who crashed have done it since to someone else and are on their third entities now, new names, same product, same faces, same bloody building... pass me a match!