Credit Cards for Bankrupt and Insolvent individual

Bankruptcy is one legal way of dealing with debts an individual cannot pay.

Bankruptcy proceedings:

• free you from overwhelming debts so you can make a fresh start, subject
to some restrictions; and
• ensure your assets are shared out fairly among your creditors.

Anyone can go bankrupt, including individual members of a partnership.
There are different insolvency procedures for dealing with companies and for
partnerships themselves.

Making an individual bankrupt or winding-up an insolvent company is usually an
action of last resort. In order to commence any kind of insolvency action, the
debtor must owe the Petitioning Creditor £750 or more. A debtor must be served
with a Statutory Demand indicating how much is claimed and how the debtor should
pay it. The Demand states that if the debt is not paid and/or an application to set
aside the Statutory Demand is not made, then the Petitioning Creditor can present
a Bankruptcy Petition.

Applications to set aside Statutory Demands can be made at the Defendant's home
Court or if it is proposed to issue the petition out of the Royal Courts of Justice,
at the Royal Courts.

Not all County Courts have Bankruptcy jurisdiction, It is therefore worthwhile
checking with the Court you are using to confirm it has bankruptcy jurisdiction for
the area in which the debtor resides.

Those who are bankrupt or insolvent usually find it hard to obtain a bank account
or any credit facilities.

At prepaid credit cards we are sympathetic to your circumstances and
understand that there are many reasons why you may have suffered financial
problems in the past. We adopt a non judgmental and sympathetic attitude to
all applications, whatever your circumstances. Many people throughout the
UK are in similar situations to that of your own and are also applying for a no
credit check prepaid credit card, which helps you keep a check on your spending
as you can’t go overdrawn on your card account. The prepaid credit card is
available to UK residents and can be used worldwide.


The pay as you go Mastercard is ideal for those who have experienced any
of the following:

• County Court Judgments
• Missed Mortgage Payments or Mortgage Arrears
• Individual Voluntary Arrangement ( IVA ) or Bankruptcy
• Missed Payments on loans, Credit Cards or Store Cards
• All Other Kinds of Adverse Credit

There is no credit check required with this prepaid mastercard, all applications are
accepted and will be processed successfully if you provide us with a copy of
your ID, the fee, and a utility bill (not mobile phone).