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Is It Hard to Open a Bank Account after Chapter 7 or Chapter 13 Bankruptcy in Missouri and Illinois?

I’m always glad to relieve the worries that people have about filing Missouri or Illinois chapter 7 or chapter 13 bankruptcy before they even come into my office. Having a bank account that you can be responsible for is one of the first steps to building your credit back up and recovering from being under crushing amounts of debt. And though it isn’t hard to open a bank account after chapter 7 or Chapter 13 bankruptcy in Missouri and Illinois, there are some secret tips to choosing the right bank and using your account wisely.

First, choose a bank that is insured by the Federal Deposit Insurance Corporation. Though it isn’t likely that your bank will fail, it is better to be safe than sorry. Second, carefully consider what kind of account you are opening. Consider accounts with low minimum balances to ensure that you aren’t charged fees for violating the terms of the account. Also, try to avoid overdrafts. You can sometimes avoid hefty fees for overdrafts by getting overdraft protection. Make sure you ask your bank about that before taking money out of your account. Third, be wary of debit cards. While they seem like a safer option than credit cards, banks will sometimes charge you a fee for using your debit card. Make sure you are clear on the terms and know what you are going to pay in fees before you pay it.

The simplicity of life after bankruptcy can be truly relaxing and give you room to breathe. Plus, if you’ve done your bankruptcy with an experienced St. Louis Missouri or Illinois bankruptcy lawyer, you can rely on him or her to give you the secrets of having a successful post-bankruptcy life. If you are still thinking, “Should I file bankruptcy?” you should consider ordering my free ultimate debt relief guide, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.” It can give you all the free information you need about erasing credit card debt, getting protection from foreclosure, and living a post-bankruptcy life free from the burden of debt. To get your free copy, click here.

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