Declaring bankruptcy is a huge problem for those trying to rebuild their credit. Part of this rebuilding is responsibly paying bills on time. This is difficult if there's no bank account from which to do this. However, the situation isn't hopeless. With a little homework and imagination, opening a bank account after bankruptcy is possible.
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Research which banks will give a bank account to you. Find those banks that don't use ChexSystems as their verification system. Local credit unions and smaller banks are your best bet. Also, you can locate more flexible banks by visiting CreditServicer.
Improve your chances of opening a bank account if you have been reported to ChexSystems. You can't remove the negative rating, but you can either request that the reporting bank remove it (if you've paid your debt, of course) or get a note placed on the ChexSystems report that says you've paid the reporting bank in full.
Open a savings account first. More banks will be inclined to open this type of account because there won't be any chance of bounced checks or overdraft issues. If you use the savings account responsibly for a few months, you can then approach the bank to ask for a checking account.
Purchase a certificate of deposit (a CD) with cash and ask the bank to allow you the opportunity to open a checking account with this as collateral. As with many places of business, they are more inclined to "help" if there's cash involved.
Take a class. Some banks may allow people with credit issues to take a class that teaches the skills you'll need to keep a checking account current in order to get a new account. Visit GetChecking for information about these programs.
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