CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
Yes although perhaps only secured.
Answer Applies to: California
Benson Law Firm | David Benson
You can indeed find credit card companies willing to issue low-limit cards post-bankruptcy. However, these loan arrangements can get you right back into financial trouble very quickly. In my practice, I ask my clients to pledge that they will no longer use credit cards and consider working with a credit score consultant to concentrate on the best ways to improve their score in order to reduce the cost of credit going forward
Answer Applies to: Ohio
The Law Office of Marvin Wolf | Marvin Wolf
It is possible to get a credit card after filing for bankruptcy. Many traditional lenders will not offer you credit, but there is a cottage industry that has sprung up just to cater to this market. You would start with a secured credit card and as you make payments, you start to rebuild your credit. The interest rates and special expense and handling charges on these cards is not that favorable and the credit limit is low, with a hefty charge for going above that small limit. Some scams give you a card with a $300 limit and $280 charge for getting the card so you only have $20 credit. It is also possible to go to a bar and order alcohol after receiving a liver transplant. It might kill you, but you would have no trouble finding someone to serve it to you. Just because you can do it doesn't make it a good idea. The problem is not that you can't get credit - the problem is that you can but shouldn't. You need to work on cutting off your reliance on credit or you'll end up in deep debt again without the safety cushion of being able to file for chapter 7 relief for another 8 years. You don't want to do business with anyone who is willing to lend you money right after bankruptcy. They are not your friend. They are a pusher that wants you to fail again because they make more money that way. Over time, when you get used to living on a careful budget, you can get a small secured card for emergency purposes only. Most of my clients have learned to live without credit and are happier for it. Keep in mind - in this economy - credit is poison, cash is king.
Answer Applies to: New Jersey
Law Office of Maureen O' Malley | Maureen O'Malley
Eventually, but the benefit of bankruptcy is that you can learn to live on a cash basis, which is very comforting, and you don't have to worry if you can pay all your bills. This is why it's called a Fresh Start.
Answer Applies to: Virginia
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Creditors look at your income more than anything and most people get inundated with credit card offers after the bankruptcy discharge is done.
Answer Applies to: Indiana
Ashman Law Office | Glen Edward Ashman
Maybe. If you are in a chapter 13, no, as you cannot get new credit at all for the duration of your plan (usually 5 years). In a chapter 7, if a lender will approve you, you can get a card one minute after filing. As a general rule, the only lenders that will do cards in the first couple years charge such high fees and interest that you would not want the card. Further down the road things will be more normal.
Answer Applies to: Georgia
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
After receiving a discharge in bankruptcy you can expect being solicited by credit card companies. You should proceed with extreme caution because the interest rate terms will be very high. It is much better, and cheaper, to use your ATM card instead.
Answer Applies to: California