Are you looking for a foreclosure prevention passbook for bad credit? It is not easy to make a bankbook transaction due to pressure from creditors. From now on, I will tell you how to open a bank account with bad credit safely.
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Doing this will make a big difference
Most of the people with bad credit use the names of family members or acquaintances to avoid foreclosure. However, while this may relieve pressure in the short term, it is undesirable in the long term. This is because most financial and telecommunication transactions must be made under one’s own name.
That’s why I advise you to use an ‘internet bank’ as the next best thing. This is only true in 2017, the early days of Kakao Bank and K-Bank. Recently, as it has grown as much as the leading domestic bank, it is also subject to account seizure.
※ Banks subject to general account seizure
Kookmin Bank, Shinhan Bank, Nonghyup Bank, Hana Bank, Woori Bank, IBK, Korea Exchange Bank, Kakao Bank, K-Bank, Saemaul Geumgo 신용불량자 통장개설
Therefore, in order to avoid the pressure of foreclosure, in effect, the banks have no choice but to avoid transactions. So, which bank should a person with bad credit use? 좋은뉴스
How to open a bank account for bad credit
What do banks with creditors have in common? You might be thinking ‘because it’s a reputable bank’ or ‘because it’s a bank that deals mostly with’. The fact is that the head office and branch are connected. In other words, if you apply for seizure of the debtor with Kookmin Bank, you will not be able to withdraw from any branch.
Therefore, if you open an account at a financial company that operates independently for each branch, it will naturally become a ‘foreclosure prevention passbook’. Please note that there are three main types.
1. Credit unions
Credit unions are non-profit financial institutions with over 1,600 branches nationwide. It is operated individually by branch, and it is practically impossible because it is not shared even if there is an application for disclosure of information by creditors. In addition, credit cooperatives have many advantages because they allow you to open a bank account quickly and easily, regardless of your credit rating.
2. Securities company
Securities companies are also safe because each branch is operated individually. Due to the nature of investment transactions such as stocks and funds, it is impossible to foreclose. All you need is a CMA account, even if you don’t trade in investments. CMA is an attractive investment product that pays daily interest and can be used like a regular bank.
Go to brokerage
Shinhan Investment & Securities Kiwoom Securities NH Investment & Securities
Samsung Securities Mirae Asset Securities Korea Investment & Securities
KB Securities Meritz Securities Hanwha Investment & Securities
3. Other banks that can open a bank account
It is often possible to open a bank account even with a small and medium-sized bank without a name. However, unlike credit unions and securities companies, they do not operate independently, so there is no way to seize an account. In addition, as it is a bank, there are cases in which the opening of a bank account is rejected by those with bad credit. Please take advantage of this and open it.
※ Seoul/Metropolitan area
Purun Bank, Minkook Bank, Yegaram Bank, Acuon Bank, Welcome Bank, Live Bank, Sky Bank, The K-On Bank, JT Chinae Savings Bank, OK Savings Bank, SBI Savings Bank, Inseong Bank, Seram Bank, Burim Bank, Moa Bank, Sangsangin Bank, Yongchang Bank, Pepper Bank, Anyang Bank, Geumhwa Bank, Namyang Bank, Samjong Bank, Youngjin Bank
※ Gyeongsangnam-do / Buk-do
SNT Bank, Soulbrain, CK Bank, Raon Savings Bank, Daea Bank, Ohsung Bank, BNK Savings Bank, MS Savings Bank, Union Bank, Daewon Savings Bank, Must Samil Savings Bank, Korea Bank, Jinju Bank, Dongwon First Bank
※ Chungcheong-do + Gangwon-do
Daemyung Bank, Hansung Bank, Asan Bank, Cheongju Bank, O2 Bank, Aju Bank, CK Savings Bank (Gangwon Province)
do this in the future
Even if you use a brokerage company, credit union, or small and medium-sized bank, there are still inconveniences. Therefore, it would be the best way to settle the debt from a long-term perspective. It is recommended to apply for personal rehabilitation or personal bankruptcy in accordance with the qualifications to cancel debt.
1. Personal bankruptcy
Personal bankruptcy is an exemption from debt because it is no longer possible to repay the debt due to living circumstances. However, it is not easy because the process is complicated and the final approval is very difficult. It is efficient to do this through a lawyer.
2. Personal Rehabilitation
Personal rehabilitation is when you have monthly income, but the amount of debt is so large that you cannot actually pay it back. Accordingly, the remaining debt is exempted if the period of up to three years is set and repayment is made without omission. However, if the cause is bankruptcy due to stock investment or fraud, it is highly likely to be rejected.
concluding remarks
So far, we have talked about how to open a bank account for people with bad credit. Even if you become bad credit, you should not give up on credit recovery. Just repaying debts or arrears on a regular basis will improve your credit rating, so please take one step at a time from a long-term perspective.
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