Bankrupt and refused a bank account

emsywoo123

Hi all, apologies if this is in the wrong place, but I have done a search and cannot find an answer!
I am trying to start a new business, but have been refused a business bank account as I am bankrupt. I do not need to borrow any money, but do need a chque book and/or internet banking to pay my suppliers, but I genuinely cannot find any help!
This is really getting me down, everyone tells me it is a sign of a doomed mission, can one of you superstars help me?

COOLTRIKERCHICK

i might be wrong, but as far as i am aware... anyone who is delcared bankrupt can not own a business.....

plus they must delclare any extra earnings etc to the administrator ( or the person dealing with your bankruptcy)

as any spare money must go to pay your creditors....

i might be wrong.. but this is what i believe happens....

as for opening a bank account......i think you might have a long wait.....as being realistic.. being bankrupt shows or says that you could not manage your money....for what ever reason....

the only thing i can suggest is postal orders....

justpaper

^ true,. you'll have to wait 5 years and apply to [SIZE=-1]Court for a discharge,

[/SIZE][SIZE=-1]i dont want to sound like a !!!!! but im kinda confused = why you thought you would get a biz bank account while being bankrupt, and going thru the whole process of filling for bankruptcy and not knowing what baknruptcy involves,

something just dont seem right,
[/SIZE]

emsywoo123

justpaper wrote: »

^ true,. you'll have to wait 5 years and apply to [SIZE=-1]Court for a discharge,[/SIZE]

[SIZE=-1]i dont want to sound like a !!!!! but im kinda confused = why you thought you would get a biz bank account while being bankrupt, and going thru the whole process of filling for bankruptcy and not knowing what baknruptcy involves,[/SIZE]

[SIZE=-1]something just dont seem right,[/SIZE]

Blimey alright no need to start! I could see no reason why I could not have a basic account like my current account but with my business name. And my official reciver told me I could have a business once I was discharged from bankruptcy, which will be in 2 weeks.
Of course I knew what the bankruptcy involved, I was only asking for advice.:mad:

knowledgeman

emsywoo123 wrote: »

Blimey alright no need to start! I could see no reason why I could not have a basic account like my current account but with my business name. And my official reciver told me I could have a business once I was discharged from bankruptcy, which will be in 2 weeks.
Of course I knew what the bankruptcy involved, I was only asking for advice.:mad:

Um because you are still banned from running a business

2 weeks is 2 weeks, no doubt if the bank had given you the account the next time you went bust you'd try and get out paying the debt on that technicality

Really not much sympathy for you at all

Your bankrupt, your banned from running a business yet you try to get round this

Its fraud/deception and nothing else

Im amazed any profession insolvency practitioner would condone such blatant fraud however think its more likely you misunderstood them

COOLTRIKERCHICK

ok i was bankrupt in the early 90's because of a failed business in the late 80's... had 3 jobs to try and pay back my debt... but 3 years after the business closed.. i had to go bankrupt i had no aternative,, but i did try paying the debt off ..nt many people knew that... ( but now i just told a potetentila of millions:eek: )

after that i could not even get a personal bank account for wages to go into...so i found it difficult to find a job.....

after 2 years i was discharged..... but even so.. i found it VERY difficult for the next 6 years plus to get any sort of credit etc......which was rightly so.....

your official reciever said you could have a business after the discharge....in theory..... in reality..... the bankruptcy will follow you around for a hell of a lot longer.. than you think.....

a bank has refused you a busines account....the majority of them use the same credit referance people.... plus banks have had their fingers burned lately with bad debters so...

i should imagine they are really strict in their credit checks...

you were asking for advice.... and you got answeres...not what you wanted to hear.. but you got the answeres...

edit.... when i did eventually got a bank account.. they would not issue a cheque book.. only a debit card.. so i could not for what ever reason write cheques for more money than what i had.....

emsywoo123

knowledgeman wrote: »

Um because you are still banned from running a business

2 weeks is 2 weeks, no doubt if the bank had given you the account the next time you went bust you'd try and get out paying the debt on that technicality

Really not much sympathy for you at all

Your bankrupt, your banned from running a business yet you try to get round this

Its fraud/deception and nothing else

Im amazed any profession insolvency practitioner would condone such blatant fraud however think its more likely you misunderstood them

No sympathy? Did I ask for sympathy? You have no idea about me or my personal circumstance that lead to bankruptcy, and I wanted to start the business to try and work around my daughter. I have no intention of fraud or deception, I have never lied about my circumstances to gain anything, and I never would.
"the next time I went bust?!" well thank you
You are a really rude individual and I think you're user name is something of an irony!
I asked for advice, which I appreciate, not these sorts of comments.

emsywoo123

COOLTRIKERCHICK wrote: »

ok i was bankrupt in the early 90's because of a failed business in the late 80's... had 3 jobs to try and pay back my debt... but 3 years after the business closed.. i had to go bankrupt i had no aternative,, but i did try paying the debt off ..nt many people knew that... ( but now i just told a potetentila of millions:eek: )

after that i could not even get a personal bank account for wages to go into...so i found it difficult to find a job.....

after 2 years i was discharged..... but even so.. i found it VERY difficult for the next 6 years plus to get any sort of credit etc......which was rightly so.....

your official reciever said you could have a business after the discharge....in theory..... in reality..... the bankruptcy will follow you around for a hell of a lot longer.. than you think.....

a bank has refused you a busines account....the majority of them use the same credit referance people.... plus banks have had their fingers burned lately with bad debters so...

i should imagine they are really strict in their credit checks...

you were asking for advice.... and you got answeres...not what you wanted to hear.. but you got the answeres...

edit.... when i did eventually got a bank account.. they would not issue a cheque book.. only a debit card.. so i could not for what ever reason write cheques for more money than what i had.....

Hi Cooltrikerchick, thank you for the info. I am glad I got the answers, that is why I asked, but I am shocked but the way people feel that tehy can judge others on here. (not you!)
Thanks again.

yeovilmac

knowledgeman wrote: »

Um because you are still banned from running a business

2 weeks is 2 weeks, no doubt if the bank had given you the account the next time you went bust you'd try and get out paying the debt on that technicality

Really not much sympathy for you at all

Your bankrupt, your banned from running a business yet you try to get round this

Its fraud/deception and nothing else

Im amazed any profession insolvency practitioner would condone such blatant fraud however think its more likely you misunderstood them

I think you were being a bit harsh on the OP there.

I was made bankrupt in August 2005 and when I went to the OR meeting, she said she was happy for me to carry on being self-employed which I did so. I had to declare my bankruptcy whenever I went for credit ( which I didn't want to anyhow ) and that I'd be unlikely to get a business account.

Eighteen months on from discharge, business is okay, could always use more, but I'm better off now there's few debts to my name. I use a Citibank personal account for my business funds as most of my customers pay me by BACS or cash.

To the OP, I think you may struggle to get an account with a cheque book to be honest and as some of the politer posters have said, bankruptcy does follow you about for a long while yet.

Good luck. If you want any other help, PM me.

Martin

liquorice_2

I may have been Lucky;

• Bankrupt March 2006
• Discharged October 13th 2006
• HSBC Current Account Opened November 3rd 2006 inc Cheque Books, Debit Card & £1500 Credit Card
• December 2006 Letter from OR stating I dont require an IPO and signed letter removing herself of duty from my case
• December 2006 registered my company
• December 2006 Lloyds TSB Business Account was opened (despite having a frozen personal account while paying off £2376 I still Owed them due to joint account not included in Bankruptsy), inc Chq book (no credit required) Opened it in person at a branch, had payslips showing my average weekly wage from brooksons, Discharge Certificate and explained what I do.
• January 2007 started trading
• April 2007 my frozen Gold service account became active again, debit cards & cheque book issued.

I did get turned down online applications to HSBC, Abbey, Alliance & Leicester for Business accounts and really held no hope off the lloyds one due to frozen account but I went in, was honest & had all paperwork and they were fine.

yeovilmac

liquorice wrote: »

I may have been Lucky;

• Bankrupt March 2007
• Discharged October 13th 2007
• HSBC Current Account Opened November 3rd 2007 inc Cheque Books, Debit Card & £1500 Credit Card
• December 2007 Letter from OR stating I dont require an IPO and signed letter removing herself of duty from my case
• December 2007 registered my company
• December 2007 Lloyds TSB Business Account was opened (despite having a frozen personal account while paying off £2376 I still Owed them due to joint account not included in Bankruptsy), inc Chq book (no credit required) Opened it in person at a branch, had payslips showing my average weekly wage from brooksons, Discharge Certificate and explained what I do.
• January 2007 started trading
• April 2007 my frozen Gold service account became active again, debit cards & cheque book issued.

I did get turned down online applications to HSBC, Abbey, Alliance & Leicester for Business accounts and really held no hope off the lloyds one due to frozen account but I went in, was honest & had all paperwork and they were fine.

Goodness, Liqourice, you are lucky.

I assume you mean 2006 in the earlier parts of your post otherwise you are incredibly accurate in your predictions....:-))