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OnTax Accountant Dunfermline Discuss:

Bank Accounts For Bankrupts

The Rules Have Changed...
New Laws For Bankrupts & Bank Accounts

Are New Laws For Bankrupts Necessary?

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Ontax Accountant Dunfermline gave a big THUMBS UP! when they learned that according to some amendments in previous laws, setting up new bank accounts will be made easier for people who will get bankrupted in England and Wales (some relief, finally!).

Ontax Accountant Dunfermline has also learned that they will get proper assistance in the matter by the authorities concerned. Ontax Accountant Dunfermline believes that such measures are really important and that progression is being made in this field.

Amendment To Bankruptcy Laws

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It was announced that the laws concerning bankruptcy will be amended in both England and Wales. Ontax Accountant Dunfermline have discovered that these steps will be taken to make sure that there won’t be any room to file a claim against those banks that freeze the accounts of bankrupt people.

Ontax Accountant Dunfermline were informed that Jo Swinson, the Business Minister, is behind this progressive concept.

According to these new laws, banks will be assured that they will not be taken to court (no more worries for bankers then) if they don’t open up bank accounts for bankrupt people. This will also make new account opening in the banks easier for many people. Ontax Accountant Dunfermline elaborate that she added further that it is understood, that to make important, secure and quick transactions, bank accounts play a vital role. Therefore people should not be denied such facilities. Ontax Accountant Dunfermline also caught Ms Swinson saying that people who are fortunately not bankrupt are not very thankful for such facilities. However for bankrupts things can get really messed up as they try to begin from scratch and we should understand how difficult it can be for them.

New Procedure Aid Banks Also

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She said that we are bringing new laws to make things easier for the banks by providing them assistance in opening new accounts for bankrupts as the current laws can be quite problematic in carrying out many of their routine tasks (routine tasks such as making more people bankrupt?). So changes in these laws will benefit both the parties. Ontax Accountant Dunfermline have learned that things started to speed up when one of the UK’s largest commercial banks, the Co-op issued a statement in the month of September saying that it will not open basic bank accounts for bankrupts any more.

OnTax Accountant Dunfermline this this is one of the major reasons to amend the laws, according to BBC News. We believe that the government also feared that more banks would join the Co-op in this issue and therefore it had to jump in (after they woke up) to prevent any such events.