If you have a low credit score and generally a bad credit history then you will no doubt be having problems getting credit or getting a loan. You may also find that you are unable to open a bank account due to you poor credit history.
This is not an unusual situation, although many of us take having a bank account for granted there are circumstances where you can have you bank account closed and are unable to open a new account. This is particularly true if you have been declared bankrupt but there is light at the end of the tunnel as there are bank accounts for bankrupts that give you all the same functionality as a high street bank account.
We all need bank accounts these days, some consider them a necessary evil but we still need them. Most companies pay their employees by BACS so you need an account to get your wages paid into. A lot of use direct debits or standing orders to pay our bills, credit and debit cards are essential for many types of purchases. So not having an account can mean that you cannot get by with many of the daily demands of modern living.
Many people are turned down for bank accounts for different reasons most of which are associated with some sort of credit problem such as bankruptcy, CCJ's, poor credit rating or other bad credit history reasons. Many people do turn to companies who for a fee claim to be able to get you a high street bank account. No company can guarantee to get you an account so do not be taken in and part with any money upfront.
There are however specialist bank accounts for bad credit history customers that charge a monthly fee who can take on people with a bad credit history. They give you all the same features as a normal bank account but of course for a monthly fee. This can be a quick stop gap solution until your credit is repaired enough to be able to get a high street account.
