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Bankruptcy FAQs
Yes. Just because you have filed for bankruptcy doesn't mean that you can't attempt to get credit after bankruptcy. In fact, if you had to file for bankruptcy your ability to get more credit would have been limited anyway. Bankruptcy eliminated your debt so you could begin the rebuilding process. The best place to start, in addition to continuing to pay debts that survived your bankruptcy like a mortgage, car loan, or student loans, is a secured credit card. With a secured credit card, you provide a set sum of money to the company and that amount acts as your credit limit. As you can prove that you are capable of paying on time, your credit score will improve. Usually within a year or two, you can begin to get unsecured credit and after two years even become eligible for home loans on the same terms as anyone else whether they have or have not filed for bankruptcy.
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