Can i open a savings account during bankruptcy?

Yes, but it is advised to open one once the debts are discharged in bankruptcy.  Opening a savings account is one of the most effective ways to repair credit and to initiate a savings plan following a Chapter 7 or 13 bankruptcy.  Individuals are advised to select a credit union or small lendng institution that is federally-insured (FDIC bank), which means that the account is protected by the federal government for up to $250,000.  It is also recommended to choose an account with little or no minimum balances in order to avoid fees as well as to take out an overdraft protection to protect against bounced checks or the payment of large fees.  For the most part, bankruptcy laws protect savings accounts from the claims of creditors once a debtor files his or her bankruptcy petition.  Funds deposited into an Education Savings Account (ESA) within one year preceding the filing of bankruptcy become a part of the debtor's bankruptcy estate.