Banks criticised over bankruptcy and insolvency stigmatism

Posted 12/07/2010

Citizens Advice has slammed banks which refuse to provide accounts for those dealing with bankruptcy and insolvency

The consumer group pointed out that only two of the 17 banks available offer accounts to people facing these problems, making it difficult for them to get back on their feet.

Citizens Advice chief executive Gillian Guy said that without access to a bank account, paying bills and receiving wages can become a huge obstacle.

‘Just because someone is made bankrupt it doesn’t mean their life stops. Citizens Advice is calling upon the banks who continue to exclude bankrupts to change their policies as a matter of urgency,’ she added.

Ed Bowsher, head of consumer finance for lovemoney.com, recently warned that personal insolvency

Anyone who is worried about insolvency