Can I Get Credit after Bankruptcy? | Kemp, Ruge and Green Law Group

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Can I Get Credit after Bankruptcy?

Yes. You may not get the premiere interest rates that you may have once enjoyed like 2% or 3% on a credit card, but the credit card % would be somewhere in the neighborhood of about 30%. And, you will be surprised at how many credit card offers you get before you are even discharged. Like I said, credit is still available. Obviously, it will depend on certain factors like your income to debt ratio, which right now is going to be very high (post discharge), and your ability to pay bills on time, which obviously in bankruptcy, a lot of people haven’t paid their bills on time. It is recoverable. It doesn’t take as long as seven years, and yes, your bankruptcy will stay on your credit score for seven years. But, once people get a credit score after their bankruptcy, they see it increase.