Can I get a Credit Card After Filing Bankruptcy?
Yes You Can!
A Chapter 7 bankruptcy stays on your credit report for ten years and a Chapter 13 bankruptcy stays on your credit report for seven years. That doesn’t mean that you will not get credit for seven or ten years. Quite the opposite is true. You will find that the same credit card companies that you wiped out are eager to give you credit again. Why? You’re not debt free and they can charge you a higher rate because of your credit score. But, that’s okay. We help you navigate the rebuilding process by giving you enrollment in a Credit Rebuilding Program designed for people who are coming out of bankruptcy. It’s our gift to you for trusting us with such an important decision in your life. It’s also our commitment to your fresh start.
In fact, we recommend that you begin to rebuild your credit as soon as you can after a bankruptcy. Credit is essential in today’s world and the sooner you start to rebuild it – before you need it – the better.
To help you rebuild, we enroll all of our clients in a Credit Rebuilder Program – at no charge to the client. It’s our gift to you to help you get back on your feet.
Some of the things that the program will teach you are:
- How to apply for credit cards after bankruptcy. They will tell you the best way and timing on how to apply for them in order to maximize the benefit.
- Whether to apply jointly with your spouse or individually.
- How many credit cards should you get in order to move your credit score faster.
- The ABC’s of your credit score and how to improve it within 18 to 24 months with a goal of a 720 credit score.
- There’s more to the program – stay tuned!
I don’t want to tell you too much because it will ruin the excitement of learning it all yourself! But, do know that you can rebuild your credit score within a couple of years and buy that house or car with a lower interest rate then those that don’t know how to rebuild properly.
Most people don’t know it but you can qualify for an FHA home mortgage just two years after a Chapter 7 bankruptcy. You can also qualify after just one year of on-time payments while in a Chapter 13 plan. Bankruptcy truly is a fresh start but the creditors don’t want you to know that.
The longer you wait to start building your credit score, the longer your credit score will suffer and the longer you will pay higher interest rates. Don’t wait until you need to buy that car or want to buy that house to think about rebuilding your credit score.
Whether you live in Miramar, Hollywood, Pembroke Pines, Cooper City, Davie, Plantation or Sunrise – our bankruptcy office is within minutes of you. Call or click here to schedule an appointment with our bankruptcy attorney. You’ll be glad you did.