Bankrupt and refused a bank account

Labman_2

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.

Are your dates correct?....if not can you edit please?

liquorice_2

blimey, you guys are quick! I noticed after I re-read it and went back to edit and 2 replies already!

My bad, pretty sure if you look up my old posts you can see questions I was asking around the same time as dates quoted to see it adds up.

Recieved good info on here, only fair to try and add some back.

Main point of posting is to say, Go into a branch, speak face 2 face, have a business plan or simular. You will stand more chance than just online applications. I know in my case with the lloyds TSB Business account, the business manager overode the decision after the computer said 'NO'

justpaper

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:

i wasnt having a go at all mate, just sounds a bit odd,

and you left out major chunk of info, if you stated - your due to be discharged with in 2wks you would of got better replys, and not of sounded odd,

Well that would be a biz account, wouldnt it, you can see where Knowledgeman' reply if coming from, u clearly said u know what your doing, lol

plus its up to the court to discharge you, its not down to the 2yrs being up,

take care, i say it again i didnt try to start nothing,

Labman_2

liquorice wrote: »

blimey, you guys are quick! I noticed after I re-read it and went back to edit and 2 replies already!

...red hot we are on MSE!...we read the small print, normal print & the large print & 'preview post'...& still get it wrong!

Debt_Free_Chick

emsywoo123 wrote: »

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!

You don't actually need a separate bank account if you're a sole trader. There's nothing to stop you paying your business expenses from your personal current account - but YOU MUST have accurate and complete records and you need to exercise discipline to ensure that you have enough cashflow.

Rossy2692

Hi all,

I am not bankcrupt but I have a lot of debt and am on a debt management programme. I decided to work as a sole trader in July of this year, I tried all avenues to get a business bank account as i had taken advice and they said it would be 'proper' to have a business account. I found an article about Nat West basic business banking, something which they don't advertise, and I applied and got accepted only differance is a charge monthly for running the account. At the same time I had gone into my own bank Abbey and applied in person, the paperwork had to be sent away as they don't deal with the business banking in branch, I told them about my circumstances and the lady in branch didn't seem hopeful and told me to basically in so many words forget it!

Anyway 3 weeks later I notice 2 separate withdrawls for £50 taken from my account by Abbey, this was the amounts required to open my business account and my reserve account, I was so elated I had been accepted for a 'normal business' account.

What I would say is be honest and upfront and you never know, but do try the Nat West but make sure you ask for it by name, Basic Business Account, as they do not advertise it, and good luck.

Michaela

Cuda_Nesbit

emsywoo123,i went bankrupt and phoned my OR he said it was fine to start a new business so i did. hope this helps