Need to open business checking account

[onthebrink]

I need to open a business checking account but my credit is shot. We have settled with most of our credit card lenders (BOA, Amex, Chase) but still owe WFB with whom I had a business account that I had to personally guarantee.

Any advice on what banks might work with me and how to approach them would be greatly appreciated.

[keepsmiling]

I need to open a business checking account but my credit is shot. We have settled with most of our credit card lenders (BOA, Amex, Chase) but still owe WFB with whom I had a business account that I had to personally guarantee.

Any advice on what banks might work with me and how to approach them would be greatly appreciated.

Dh uses Provident for his business accounts. He likes them much better than BoA, which nickel and dimed him to death.

Just curious, what percentage were you able to settle with those banks for?

[onthebrink]

Thank you. Is that Provident Bank or Provident Credit Union?

I have been able to settle between 30% and 55% of the balance.

[mtngirl47]

I went to a small, locally owned bank and opened both personal and business accounts. I did it in advance of filing bk. I don't have any credit with the new bank and don't expect to get any since I'm in a 5 year Chapter 13....My corporation and my personal life are cash only right now...No credit for the bankrupt!

I changed my credit card processing as soon as I realized that I was going to have to file. I don't have rates as good as I once had...plus they take their discount amount out each day instead of monthly like I had before.

[daxtell]

my credit was shot too and i had overdrafts with BOA and an extended line of credit. i just kept trying different banks in my area until finally Suntrust gave me an account. I think Suntrust is only on the East coast though.

[marie]

I was discharged in June and just recently opened an account at Suntrust with no issues. I told them about the BK and they didn't care

[RichM]

Try a local credit union. Most of them are more flexible about things in general, in my experience.

-Rich

[onthebrink]

thank you