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? Opening up a bank account immediately after Chapter 7 or Chapter 13 bankruptcy in Missouri or Illinois is usually the very first step individuals take to rebuild their credit. Along with the idea that you cannot open a checking or savings account following bankruptcy just isn't correct, just like many other myths about bankruptcy. Finding a brand new account is a good approach to get started feeling usual and responsible again but there are, however, some secret suggestions to choosing the ideal bank and obtaining the right account. - Pick out a federally insured bank. There must be signs inside the bank and possibly on their web-site 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 frequently wise to start with a credit union or small bank when you 1st emerge from bankruptcy so it is especially important to check for insurance. - Opt for your account wisely. You will be better off acquiring 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 approach 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 often a fee. Having a debit card is also another reason to have overdraft protection. Debit cards typically seem like the safer option because the idea behind them is that you only spend what you havebut you can over draw your account just as easily with a debit card as you can by 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 soon after bankruptcy. Still asking yourself "Must 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 method to a fresh commence. If you have chosen the proper bankruptcy attorney for your situation, he or she will be more than willing to offer you the best information for receiving back on your feet. replica louis vuitton