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"I contacted Scott Bell Financial because I had no idea how to begin rebuilding my finances. I lost my job and spent all my savings on bills, and I feared I would lose my car -- which I needed in order to find a new quality job -- if I didn't turn things around. Scott Bell helped me restructure my budget, find an emergency loan and make a fail-safe plan in the event I were to remain unemployed. Fortunately I found a new job, but when things were at their worst Scott Bell Financial gave me peace of mind that I would be OK."
- Benjamin S., Salt Lake City.

Second Chance Checking and Banking

Second Chance Checking and BankingDo you want a checking account, but are you held back by being listed in ChexSystems or Early Warning Services? These consumer reporting agencies work on behalf of banks to weed out consumers who can't be trusted to hold up their ends of financial agreements.

Second chance checking accounts are for people who are listed in these systems but still want the power of checking. For many people, a second chance checking account may be the only way to get a new checkbook. A 2nd chance bank account may not have the same benefits as a standard checking account, but a second chance bank account is still a great tool for people who want to recovery from financial hardship.

How are second chance checking accounts different than standard check accounts? Here we'll reveal some of the primary things to look out for when considering a 2nd chance checking account.

1. More restrictions to safeguard the bank: With a normal checking account, any deposits you make are normally in your account by the next day. Second chance checking banks your payment for up to two weeks, making sure that deposits are legitimate. This is how these banks make sure you can pay for what you purchase.

2. Checking or a prepaid card: Sometimes a 2nd chance bank account may be nothing more than a prepaid credit card with an online bill pay feature. This is not the same as having a checking account, and you should be sure you know exactly what you're signing up for when seeking to bank second chance checking.

3. More scams: In addition to knowing what you're getting (see above), you must also be careful that you're not being scammed when trying to find a second chance checking account. Some organizations will disguise themselves as second chance checking banks, but when you apply for an account the 2nd chance bank account organization will use your information to apply for prepaid credit cards, which you could have gotten yourself. There are other scams associated with 2nd chance checking account applications.

People who are shopping for second chance checking accounts would benefit from doing some research before applying for a second chance bank account. You can start by checking for complaints with the Better Business Bureau, or you can search for feedback online and in news articles to see if the second chance banking company is legit. At Scott Bell Financial, we keep an extensive list of viable second chance checking companies that we use to make recommendations to our clients. You can call us for recommendations in your area; the last thing anyone wants is for you to be scammed.

As we've learned during the past few years, sometimes bad things happen to good people -- especially during times of a down economy. Millions of people in the United States have lost income, and countless others are in fear of losing their jobs -- that's who needs to bank second chance checking. Those who weren't neck-deep in the out-of-control real estate market or Wall Street shenanigans were innocent bystanders when the economy came crashing down.

Second chance checking banks provide a safeguard for those who are responsible enough to manage their finances, but who were unfortunate enough to get caught in the economic deluge of late 2008. A second chance bank account is not a long-term solution to a person's financial problems, but holding and managing a checking account is the best way to show banks and lenders that you're ready and able to handle financial responsibilities.

For consumers who need a checking account and can't qualify for a standard account, a second chance checking account is a nice alternative. You can bank second chance checking easily by contacting a reputable company with experience in providing a 2nd chance checking account.