Beat Debt Guide

Archive for July, 2010

The Citizens Advice Bureau announced today in a report, Called to Account, that people who have recently become bankrupts can find it difficult to get basic banking services.

The Chief Executive of Citizens Advice, Gillian Guy, said:

“Great progress has been made in improving access to bank accounts for many groups who were previously financially excluded, yet there are still groups, such as undischarged bankrupts, who struggle to open even a basic bank account.

“Most people take having a bank account for granted, but without access to one, basic tasks such as receiving wages or benefits and paying bills can become huge and costly obstacles to overcome, particularly for people who are often at a vulnerable point in their lives. Just because someone is made bankrupt it doesn’t mean their life stops.

Obviously if you have to declare yourself bankrupt it is not a pleasant process to go through. Therefore it is important for those in debt and in trouble to recognise that fact and start to take steps to reduce their personal debt to a manageable level.

The later action is taken the more serious it becomes and the nearer you’ll be to having to declare yourself bankrupt – a situation best avoided.