Useful

**the_boy_syrup** · 29-05-2010, 15:40

Originally Posted by RoofRat

Correct me if I am wrong,as I understand it,a declared bankrupt can't hold a current bank account,therefore it would be a problem being paid?

There are other,less corrosive alternatives,to bankrupcy as has been said already explore these first.

I was told by a bank that they cannot refuse you an account
You'd get a basic account no chip and pin and only cash point access only
So they can still get paid

**colton** · 29-05-2010, 15:40

Originally Posted by RoofRat

Correct me if I am wrong,as I understand it,a declared bankrupt can't hold a current bank account,therefore it would be a problem being paid?

There are other,less corrosive alternatives,to bankrupcy as has been said already explore these first.

Its not that they arnt "allowed" to hold a current account, most banks wont let them. However, Post office cash account and nationwide flex-accounts are (or were when I worked in insolvency) avaliable to bankrupts to alllow them to have their salary paid to them.

**Aintbrokedontfixit** · 29-05-2010, 16:14

Bankrupcy is not the end. I went bump a few years ago and it affected me not at all with the exception of not being afraid to open mail or answer the phone. For a bank account try the Nationwide they were great with me.
I now have a good credit score and can have a morgage/credit card/cheque book ect.
While your bankrupt you can even get credit but you pay through the nose for it.

**issac_hunt** · 05-06-2010, 06:37

Recruiting group instructions ch 11 gives the advice on this. Bancrupcy Is only a bar if you are banned from having a working bank account. Go and see the recruiting office and they will look up the relevant section. Not all bankrupts are barred from having a bank account

**BiscuitsAB** · 14-07-2010, 17:03

Originally Posted by jamie_gee

i havnt been to the citizens advice bureau as of yet?.. i just felt applying for bankruptcy would be the best way to get me out of this mess, and start moving on with my life... i owe around Â£25.000. i was a tube driver for 6 years years, i was on a good salary 40k +, then i suddenly lost my job for accidently going through a red signal, it was a little harsh taking the circumstances into account. anyways, so basically now im screwed! iv always wanted to join the army after spending three years in the army cadets as a teenager, i just hope my finicial situation wont ruin my chances?

Mate, don't know you from Adam however I'll tell you this don't go bump for 25K/ If you debt was 250K then maybe think about it but for that piddling amount of money you can arrange payment plans with the lenders. For 25K you could probably get them down to under £50 a month if you squeezed them. Go get some proper advice, or better yet go onto martin lewis's website moneysaving expert and read the debt forums you'll learn a hell of a lot of helpful stuff on there.

**fairy_nuff** · 14-07-2010, 19:33

Try PayPlan they will contact your creditors and agree an amount to pay. Financial difficulties can affect security clearances

**thebutlerdidit** · 14-07-2010, 20:11

Do not go to Payplan or any other "commercial service" their fee will be included in your repayments. First point of call Citizens Advice Bereau or Consumer Credit Counselling Service, both are free, impartial and totally non judgemental. You will not regret taking this step, irrespective if you are successful in joing the army. Best luck.

**TheSporting1st** · 14-07-2010, 20:24

Mate, PM me - my wife is a debt advisor with the benefits agency and she says shes happy to talk to you if you want. Some good advice here, DONT bankrupt yoursefl for such a piddling ammount. Hope to hear from you.

**samm1551** · 28-08-2010, 16:25

Originally Posted by TheSporting1st

Mate, PM me - my wife is a debt advisor with the benefits agency and she says shes happy to talk to you if you want. Some good advice here, DONT bankrupt yoursefl for such a piddling ammount. Hope to hear from you.

Please let this man's wife help you. I used to work in finance and I suspect that she will give you the more updated version of what I would. Please please please try to avoid bankruptcy or an IVA. Many companies will agree a payment plan with you. The way you start is by doing a detailed income and expenditure, please also do not forget to add your food and petrol costs. I know it sounds daft but people do forget, and you will need the car (if you have one) to get around for job interviews etc.

Whatever happens good luck.

**Gremlin** · 28-08-2010, 17:31

Originally Posted by TheSporting1st

Mate, PM me - my wife is a debt advisor with the benefits agency and she says shes happy to talk to you if you want. Some good advice here, DONT bankrupt yoursefl for such a piddling ammount. Hope to hear from you.

Originally Posted by samm1551

Please let this man's wife help you. ...

Whilst well meaning, that's probably one of the worst pieces of advice on here.

Always check the source of your advice and help first!!!!!!!!