Listed below are bankrutpcy prepaid cards available under your search. Just click on the more information button to get further details about the bankrupt prepaid card.
Bankruptcy is one way of dealing with debts you cannot pay. The bankruptcy proceedings:
Free you from overwhelming debts so you can make a fresh start, subject to some restrictions;
Make sure your assets are shared out fairly among your creditors.
Anyone can go bankrupt, including individual members of a partnership. There are different insolvency procedures for dealing with companies and for partnerships themselves.
Can I get a bank account is I am bankrupt?
Yes but not all banks there are currently 3 banks that state that they will provide basic bank accounts to undischarged bankrupts. Nationwide Building Society The Co-Operative Bank, and Barclays Bank all state that only a 'record of fraud' should prevent an individual obtaining access to their basic bank account facilities
Do I have an alternative to a bank account?
Yes you can get a prepaid card, they are a virtual bank account, there are no credit checks, no proof of income and can be used like a normal bank account, even if you are bankrupt you can still get one. With a prepaid card you can even set up standing orders, withdraw your cash from atm's, use at retail outlets over the phone or online. You can choose either a Prepaid MasterCard, Prepaid Maestro or Prepaid Visa card.
Can I get a credit card if I am bankrupt?
You cannot get a credit card if you are bankrupt , this is because you have a bad credit history, and once you are discharged you can then apply for a bankrupt credit card or credit cards.
What are the benefits?
Unfortunately bad debt is on the increase, banks are increasing charges and loan companies are making it easier to get credit, how does that affect you, if you cant keep up the minimum payments chances are you are going to get in to debt. Prepaid cards are now a serious alternative, all their charges are clearly laid out usually in the terms and conditions and companies are now.
Way up what is best for your situation
Cost of card – these vary depending on what your card can do and if it is a Maestro or MasterCard Maestro cards are cheaper but MasterCard has more capabilities
Card Activation fees – some cards mainly “cost per transaction” charge an annual fee
Annual charges – some cards mainly “cost per transaction” charge an annual fee
Monthly fees – these are ideal if you know you are going to use your card on a regular basis it can help you budget more easily
Cost per transaction – if you are only going to use your card every now and again then this plan will suit you, but be careful as this can add up to more than a monthly fee
Withdrawing cash – (ATM's) – If you are just going to take cash from cash machines look at the charges and see who is offering the lowest fees
Wages payments – Free with nearly all the prepaid MasterCard's
Direct debits – you cannot do direct debts on prepaid cards as the amount is variable and this can cause you to have insufficient funds if they take more than expected
Standing orders - you can with some of the MasterCard brands, you phone up the customer service line and they will send you a form
Re loading charges – Think about the way you can top up, online is usually free, some companies charge over the phone, look at standing orders normally free, and nearest location there is no point if the nearest post office is miles away
Benefits – all the MasterCard brands offer discounts on car hire, hotels and flights to USA, some prepaid cards like bread prepaid card offer hundreds of discounts when you pay with your card.
The following comparison chart compares all the top up credit cards in the UK. All are by MasterCard with chip and pin facility. Use as an alternative to a credit card plus you can use as a payroll card
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Are prepaid cards popular?
Prepaid cards are a safe, convenient and debt free payment alternative for all types of people. Prepaid credit cards have grown by 28% this year and are likely to continue. A standard credit card is a great financial tool when used responsibly.
If you intend to use your card more than 5 times a month consider a fixed monthly fee
