ISAs for former bankrupts

southgrange

Hello,

I am a former bankrupt having been discharged nearly two years ago.

My credit files have been cleaned up and my credit is improving.

I really want to open an ISA but having been bankrupt I know opening savings accounts might be a problem.

Just wondered if anyone knows of any banks who are more likely to allow me to open an ISA.

Thanks,

SG

rartherinv

Hi,

All you need to open an ISA is an identity & an ISA allowance remaining for the tax year. Bankruptcy will not be any problem opening a savings account unless you are about to declare yourself bankrupt of course in which case you should not have savings.

There is no credit searching for savings accounts as there is no credit facility offered by the bank. They may register a search with a credit bureau only to verify your identity - they do not see account information or whether you have been bankrupt, they only confirm your name, address, d.o.b, etc. as the rest is irrelevant where no credit facility is going to be offered.

sort_me_own_yard_out

rartherinv wrote: »

There is no credit searching for savings accounts as there is no credit facility offered by the bank. They may register a search with a credit bureau only to verify your identity - they do not see account information or whether you have been bankrupt, they only confirm your name, address, d.o.b, etc. as the rest is irrelevant where no credit facility is going to be offered.

I had a slightly differant experiance over savings. I tried to open a savings account with the co-op prior to my bankruptcy so i could set aside my car maintaince, car tax, holiday,and emergancy fund allowance each month and had my application declined. I failed my IVA a few year ago so I know my credit rating is shocking and guessing as I am on the electrol role this is the only reason I was knocked back. They did however let me open another cashminder account so I can put my allowances to one side.

As for ISA sorry cant help there!!

tigerfeet2006

I know that quite a few on here have Co-op ISA's. If the computer says no then ask the customer services bod to refer it and it should be fine.

SteveABC

I opened a Co op ISA in branch two weeks after discharge, with no problems. :T