Opening A Bank Account After Filing Chapter 13 Bankruptcy

It is generally possible to open a bank account after filing for Chapter 13 bankruptcy. Many bankruptcy petitioners open new bank accounts as part of their efforts to rebuild their finances. However, some banks may be hesitant to approve a new account for someone who has filed for bankruptcy. This is because the bankruptcy filing may indicate to the bank that the individual has had financial problems in the past.

In this article, learn about how to manage your bank accounts once you have filed for bankruptcy. Also, know how to open a new bank account if your long-term bank is unaccommodating to your needs.

If You Are Considering Filing For Bankruptcy, Put Your Doubts To Rest With A Chapter 13 Attorney

Opening A New Bank Account During Chapter 13 Bankruptcy

Can you open a bank account after filing Chapter 13? The answer is yes. However, it is subject to certain conditions.

Challenges In Opening A Checking Account

If you would like to open a checking account, instead of a savings account, you may encounter difficulties. There are no regulations in the Bankruptcy Code that will prevent you from opening a bank account. However, keep in mind that your chosen bank may choose to check your credit report. If this happens, your chosen bank may choose to prohibit you from opening a checking account. 

Opening A Savings Account

If You Are In The Midst Of A Financial Crisis, Get Legal Advice On Filing For Chapter 13 BankruptcyIf you want to open a savings account during Chapter 13 bankruptcy, you should notify your bankruptcy attorney first. Depending on the amount you plan to deposit, the trustee may need to adjust your repayment plan to ensure that you are not retaining too much income that could be used to pay off your debts.

Additionally, any funds deposited into a savings account during bankruptcy may be subject to seizure by the trustee or your creditors, so it’s important to understand the risks involved and discuss your options with your attorney.

Key Reasons To Open A New Bank Account

Opening a new bank account when you file for Chapter 13 bankruptcy can provide you with greater financial security. It helps you manage your finances better and sets you on the path to a brighter financial future.

Unfortunately, some banks may choose to restrict individuals who have filed for bankruptcy from accessing their accounts. If this is true in your case, you may be left with no option but to sign up with a new bank. 

If you find yourself unable to access your pre-existing bank accounts, your best option is to talk to your bankruptcy attorney. They will be able to work with your current bank in order to allow you to shift your existing funds to a new bank. 

It may also be a smart idea to open up a new bank account if you have an outstanding debt with your current bank account. As there is a small chance that your bank may choose to command your funds to help offset some of your debts. Whereas if you successfully open a bank account with a bank where you have no existing debts, your new bank cannot take any of your funds, without your permission.

Using Your Bank Accounts To Pay Your Debts

One of the easiest ways to keep to your Chapter 13 loan repayment schedule is to approve an automatic payment. Such payments may include the mortgage of your primary property. Other payments which you are still required to make include court-ordered alimony payments and child support payments.

You may choose to have your trustee take out necessary funds from your bank account in order to meet these same obligations. This way, they’ll also be able to make regular payments to pay off your debts, on your behalf.

Speak With A Bankruptcy Lawyer To Know Your Banking Options During The Filing

Consult Lincoln-Goldfinch Law Firm For Bankruptcy Chapter Services You Best Qualify ForA Chapter 13 attorney can help you open a bank account after filing by providing you with the necessary documentation to prove your bankruptcy status to the bank. This documentation includes your bankruptcy petition and confirmation order. 

The attorney can also advise you on which type of bank account to open. By working with a bankruptcy attorney, you can ensure that you have all the necessary information and documentation to open a bank account and move forward with your financial recovery.

Lincoln-Goldfinch Law is a trusted bankruptcy firm that can help you during a Chapter 13 filing. They can also help assess if it’s in your best interest to open a new bank account.


There are certain factors to consider when opening a new bank account during a Chapter 13 filing. For example, it may be easier to open a savings account compared to opening a checking account. Also, opening a new savings account in a different bank may be a better option if you have an outstanding debt with your current bank. However, it is important to consult with an experienced bankruptcy lawyer so you can make well-informed decisions.

Read Related Info
More Info

Get Help From A Bankruptcy Attorney

    How To Find Us

    Austin Office
    Lincoln-Goldfinch Law

    1005 E 40th St
    Austin, TX 78751

    Waco Office

    Lincoln-Goldfinch Law

    1616 Austin Avenue, Suite A
    Waco, TX 76701
    By Appointment Only

    Austin & Waco

    Call or Text: (855) 502-0555
    Fax: (512) 323-9351