Can You Have a Post-Bankruptcy Checking or Savings Account in Missouri or Illinois?

It isn't hard to open a checking or savings account after bankruptcy in Missouri and Illinois. In fact, opening an account after Chapter 7 or Chapter 13 bankruptcy is the best way to get back on your feet and start rebuilding credit. There are, however, some secret tips to choosing the right bank and getting the right account.





- Choose a federally insured bank. There should be signs inside the bank and possibly on their website that read "FDIC." That stands for Federal Deposit Insurance Corporation and it means that the federal government has insured your account for up to $250,000. It is often wise to start with a credit union or small bank when you first emerge from bankruptcy so it is especially important to check for insurance.





- Choose your account wisely. You will be better off getting an account with low or no minimum balances to make sure you don't run into some unexpected fees. In addition, you'll want to get overdraft protection to keep from paying large fees or bouncing any checks. Over drawing your account certainly will not help you on your way to success and avoiding it is imperative.





- Be wary of debit cards. Some banks will charge you a fee to use your debit card. Know the terms of service on your debit card before you use it and make sure to run it as credit if there is a fee. Having a debit card is also another reason to have overdraft protection. Debit cards often seem like the safer option because the idea behind them is that you only spend what you have-but over drawing can happen just as easily, if not easier, than simply writing checks.





If you have chosen the best St. Louis Missouri or Fairview Heights Illinois bankruptcy attorney, they will be more than willing to tell you these tips and more to help you get started on your life after bankruptcy. Still asking yourself "Should I file bankruptcy?" Consider reading through free material like articles, blogs, and publications from experienced Missouri and Illinois bankruptcy lawyers to find out how you can erase credit card debt, get protection from foreclosure, and get on your way to a fresh start. Make sure that any bankruptcy attorney that you hire is willing to offer you information on getting back on your feet for free.








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Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, "Get Out of Debt: Secrets Your Creditors Don't Want You to Know." You can request a free copy by visiting his website at http://www.CastleLaw.net .