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i This solution is only available in England, Wales and Northern Ireland.

How bankruptcy affects me

Bankruptcy and my bank account

You should still be able to have a bank account if you go bankrupt, but it will be a basic bank account.

During bankruptcy, your current bank is very unlikely to allow you to keep your account if you have an overdraft or other debts with them.

Even if you have no debts with them, most banks will close your account when you go bankrupt and it's likely your account will be frozen for 2-7 days while the official receiver dealing with your bankruptcy checks your transaction history.

You’ll normally have to open a new account with a different bank, and your choices may be limited. Our in-depth guide to bank accounts after bankruptcy explains what will happen to your account and where you can go for a replacement.

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“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2017