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The insolvency advice given to individuals facing bankruptcy in the months to come could be a little more positive than it has been in the past, thanks to government pressure on the major banks to ensure individuals can access basic bank accounts until their bankruptcy is discharged.

In recent months, many of the banks have cut back on the features available as part of their basic bank account services, according to action group Consumer Focus.

This has left many undischarged bankrupts with only Barclays as their sole choice of banking services provider – something Consumer Focus are urging the government to change.

Basic bank accounts are stripped-back versions of normal current accounts, intended to give bankrupt individuals the ability to continue with essential financial activity, while limiting their ability to overspend beyond the terms of their bankruptcy.

They are an important part of the process, ensuring that people have the option of getting back to a firm financial footing, and as such are an important component in good insolvency advice – which is why it is good to see the government taking action to protect individuals against losing access to these types of accounts.

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