How soon can you put money in a checking-savings account after a bankruptcy discharge?

Answer 1

A checking account has nothing to do with a bankruptcy unless the bank you are going to deal with does a credit check on you and uses this information to Approve/Disapprove you based on that info. If you are turned down by a bank try another, some bank in your area will give you a Checking Account I'm sure.

Good luck getting a checking account. I filed chapter 7 and was discharged over a year ago and NO ONE in the area will give me a checking account. I have to get my paycheck cashed to pay bills.

The above person can't get a checking account probably because when they filed for bankruptcy, they included some current bank account they had. When you do this, the bank will place an inquiry on Check Systems and that is what banks used to determine if they will grant you a bank account at their branch.

I understand your problem entirely. Refer to the above comment about ChexSystems. Keep in mind that not all banks use ChexSystems, there are still 20% of banks that use some other system or no verification system. If you have been legitimately reported to ChexSystems for owing a bank money, there is no way to remove it unless you can get the bank that added the report to request the removal. You can however, get a note placed on the account if you have paid the debt in full - this will not ensure that you can open a checking account, but it does improve your chances with a bank that has the option of overriding a ChexSystems report. Easiest way out, check with your local credit unions and smaller banks. Odds are one of them either doesn't use ChexSystems or they will open an account even with negatives on that system.

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I just came out of Chapter 7 and could not open an account as long as you included the bank in your bankruptcy and have your discharge papers along with the line item showing they were included into the bankruptcy you can open another account. Just order a chexsystem report then dispute the item as paid and request it to be updated/removed you then will be able to open another account within 30 days. If they dont show a 0 balance you can sue them under the bankruptcy law. but you wont have a problem as i was able to open account 15 days after my dispute.

Answer 2

My bankruptcy went through in September of 05 and as of yet I still have not been able to open an account. The bank that I was at stated that I had to pay off the remaining balance even after I filed and it was discharged. So far I have tried second chance banking on the internet but it offers no checks and can only keep maybe 10,000 dollars in your account. I heard Well Fargo bank has opportunity checking. I am going to try there.

Answer 3

What is on your credit report has no bearing on opening a bank account. What is important is any reporting on Telecheck which would show whether or not you have any fees owed to a banking institution or owe a merchant any because because you had written any checks that has not cleared.

Answer 4

Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago.

The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.

The above notes discharge dates

Answer 5

This is the question I get from every one of these clients. Fortunately, the answer is YES! However, when the bankruptcy laws were changed in 2005, various waiting periods were imposed. In every case, you can file bankruptcy again; it's just a question of how long you have to wait.

Four Important Notes About Filing a Second Bankruptcy Case

The first important note you need to know is that the waiting period starts from the date you filed your prior bankruptcy petition and ends on the date you filed your second bankruptcy petition.

The second important note is that you only have to wait if you received a discharge in your prior case. If you did not receive a discharge, you can file immediately. For example, if you filed a Chapter 13 bankruptcy case, and it was dismissed because you were unable to make payments, you do not have to wait at all to re-file a second case (provided, of course, that you meet other necessary criteria - speak to an attorney about this).

The third important note is if your prior case was a Chapter 13 bankruptcy case in which you paid back your unsecured creditors at least 70%, then you do not have to wait at all.

The final important note is that the waiting period does not prevent you from filing again; it just prevents you from getting a discharge. You can still file without waiting - you just do not get the benefit of the discharge. Why would you do this? If the sole purpose of re-filing is to stop foreclosure, you probably do not need to wait several years, as you still get the benefit of the bankruptcy stay in a Chapter 13 case as well as the ability to cure arrears with a payment plan.

The Waiting Periods Are 2, 4, 6 and 8 Years

Two Years

If your prior case was a Chapter 13 bankruptcy case and your new case will be Chapter 13, then the waiting period is only two years.

Four Years

If your prior case was a Chapter 7 bankruptcy case and your new case will be Chapter 13, then the waiting period is four years.

Six Years

If your prior case was a Chapter 13 bankruptcy case and your new case will be Chapter 7, then the waiting period is six years.

Eight Years

If your prior case was a Chapter 7 bankruptcy case and your new case will be Chapter 7, then the waiting period is eight years.

Important Note for homeowners in foreclosure: Even if you do not qualify to file again based on the above criteria, you can still file for Chapter 13 if the primary concern is curing mortgage arrears. In this instance, you will not receive a Chapter 13 discharge, but you will be able to cure all of your mortgage arrears and stop foreclosure.