So, I am now in the process of trying to sort out my situation so that I can put in an application for an IVA or bankruptcy.

Anyway, I am looking at basic bank accounts as I know I will need to open one of these before I apply for anything so that I can have my salary/bills transferred to that. However, what I have noticed with some basic bank accounts is that they come with Solo - can anyone tell me, is Solo just another type of debit card? In which case, should I avoid those accounts, or would I be ok with one of these accounts given that it is still just a basic bank account?

Solo is, as far as I know, a debit/cash card. However, it is not as widely accepted as some, a bit like Electron. I have only been with Think Banking a month, but so far I have found it very good. They do charge £12.50 per month, but they do not charge if they return a direct debit. There are two accounts. You salary and other income is paid into the salary account, an amount is held back for your monthly regular payments, which you tell them about at the beginning, and the rest goes straight on to the card account. You are given a Maestro card, which is acceptable almost anywhere. Any extra money you pay in goes on to your card account too. So there is always enough money to pay your bills. Also they have online banking, on which debits appear immediately. If I use my card in the shop round the corner, come straight home, it is already showing. Other banks deduct the money, but you don't know where it has gone for at least two days.

You can also sign up for their text messaging service, which is free, and you get a text every time money is paid into your account. The only drawback is that you have to phone and tell them when a new debit is being set up and you can't cancel direct debits online.

There are lots of banks doing basic accounts, but they usually give you Solo or Electron or even just a cash card. They also still charge for returned debits and overdraft charges.

Think is run by the Royal Bank of Scotland and they do not do a credit check. All you need is proof of identity.

Thanks. I did see the Think Banking one, but I was put off by te £12.95 a month simply because you can get the same kind of deal with one of the prepaid mastercards now for £4.95 a month. I can have my salary paid into that, and set up direct debits too for my bills. And if I load £1000 or more each month, even the £4.95 is waived. Plus I can use it abroad, whereas Solo is just UK I believe. It is probably the option I would go for, but I was just hoping to go for an actual bank account - although the prepay cards have the same facilities in that you have chip and PIN, an online statement etc, for some reason joining an actual bank feels more secure, although I have no idea why so in these current times!

I was just hoping to have something in place to transfer my salary to in advance of setting up any kind of IVA or application for bankruptcy, but I have just read that even if you have just basic bank account there is still every possibility it will be frozen under bankruptcy anyway, so maybe I would be better off with the prepaid cards in the long run.

I think you will find that everything financial in your name will be frozen if you go bankrupt. The Official Receiver publishes all bankruptcies in the London Journal or the London Gazette (I can't remember which) which ALL financial institutions subscribe to and read.

Anything you pay in afterwards will be left alone. If you are trying to avoid having your funds frozen on bankruptcy, the only safe place for it is under the mattress! Or, better yet, a safety deposit box, though I wouldn't trust those either since they are mostly held by banks who don't always keep their noses out of them.

You could set up an account but not have your salary paid in until after the bankruptcy. Draw out everything else prior to that date in cash.

Its not the freezing of funds that I am concerned by - I don't have any anyway by the time I've paid everything out!

The main reason I was doing it was so I had the account in place ready, because once a bankruptcy order is made I am concerned I wont be able to then get even the basic of bank accounts and my salary would be stuck somewhere!

I am concerned about it because when I have looked through the basic bank accounts, most of them are not compatible with bankruptcy, so it was suggested I apply for it first while I still have some credit rating to speak of, as any order would then freeze debts but would recognise a basic bank account as a minimum facility required for the payment of salary. I thought if I had it set up first, had my salary transferred, then it would stop my current account bank being able to take everything to clear the credit card I have with them, and would also remain viable for my salary to continue being paid.

Basic bank accounts can be set up after bankruptcy but you can also set one up beforehand and just tell then that you are going bankrupt. From what I've seen on other forums this doesn't seem to be a problem as you can't have an overderaft with them anyway. It is a good idea to do what you suggest to stop your bank taking whatever you'e got to set against your credit card debt.

According to the FSA site Barclays and the Coop do this sort of account and will accept undischarged bankrupts. The Barclays one comes with a connect card which is widely accepted as a debit card. It looks like you'll have to watch / control your accounts though as they both charge for bounced direct debits.

When my husband was made bankrupt, his account was frozen and closed. He had to pay his salary into my account as this was before the days of basic bank accounts, back in 1991. However, I am concerned for you in that if you set up an account beforehand, that could also be frozen even if you have no funds in it. I think your very best bet at the moment is to give some of them a ring and ask.