Can I get credit after filing personal bankruptcy?
Bankruptcy can be reported to your credit report for up to 10 years; however, you can begin to reestablish your credit right away.
Bankruptcy eliminates most, if not all of your debts. Once your debts are eliminated your debt-to-income ratio is reduced; therefore, potentially improving your ability to borrow money in the future. Some financial institutions actively solicit business from people who have filed. Many lenders have programs that provide for post-bankruptcy borrows to obtain home financing within a year or two after a discharge. Many of our clients even receive solicitations for unsecured credit cards almost immediately upon receiving their discharge. Our attorneys can help you sort through your post-bankruptcy credit options to prevent you from getting back into the credit card “trap”.