Can I open a new bank account while I am bankrupt in Newfoundland?
Yes. As a matter of fact, it is strongly
recommended that you open a new bank account before going
bankrupt in Newfoundland. Doing so will ensure that none
of your old creditors will attempt to take money out of
your account.
A bank is not allowed to refuse you a bank account (unless they have reason to believe the account will be used for illegal purposes).
Even with these rules, some banks may be
reluctant to open a new bank account for you once you are
bankrupt. Therefore, it is a good idea to open a new
bank account before you go bankrupt in Newfoundland, which
also gives you ample time to have your payroll deposit and
other items transferred to your new account before the bankruptcy
starts.
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