If I file for bankruptcy will anyone ever give me credit again?

February 2, 2012

First of all, the answer is “Yes”!  Many of my clients are eligible to receive credit cards immediately upon the conclusion of their bankruptcy case.  The interest rates on these credit card offers are very high and they often come with high fees.  The reason the credit card companies are so willing to give credit cards to people fresh out of bankruptcy is because they know these people cannot file another bankruptcy for many more years.

I recommend that my clients establish a regular plan of savings before ever considering another credit card.  Be honest with yourself.  If you don’t have the discipline to pay the credit card balance in full each month, do not get a credit card!

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