| Search thousands of professionally drafted legal documents |
|
|
|
After bankruptcy, how do I re-establish my credit?
There are at least two ways to get credit after bankruptcy. First, one of your existing creditors may continue to grant you credit based upon a reaffirmation agreement made during the bankruptcy proceeding. Second, today there are several banks offering a secured credit card. This means that the credit limit is based upon the amount of security given. Note also that many creditors are more likely to extend you credit after you file for bankruptcy than before your filed. With all of your dischargeable debts wiped away, creditors view the debtor of now having more disposable income to pay the new debts. In addition, creditors know that the debtor cannot file for bankruptcy for another six years, thereby shielding creditors from the bankruptcy laws during this time period.
Updated: 10/13/99
Our Affiliate program offers selected sites the ability to offer various legal forms for sale and to earn a 25% commission on all form sales.
Join our affiliate program. Registration only takes a few minutes and is free. |
CAUTION! Please remember that no information found at this site can replace a face to face meeting or telephone consultation with a "real live" attorney about your particular case, problem or question. The information you find here or in the answers should just be a starting point in finding your answers. |
|
