Fremont Bankruptcy: You Will Get Credit Again

Credit is a big question mark for those in debt and considering bankruptcy as means to get themselves out of debt and onto the fresh start that bankruptcy offers.

The expression "But I'll never get credit again" is one we hear a lot in our Fremont bankruptcy firm from those that worry about what filing bankruptcy will do to their future ability to obtain credit.

First and foremost the idea that a bankruptcy filer will never get credit again is not true at all.  Soon after successfully filing for bankruptcy, you’ll be getting credit card offers again.  Most of them will be from sub-prime lenders that will charge very right interest rates.  "There are innumerable companies that will provide credit to you," says Howard Ehrenberg, a California bankruptcy attorney and trustee. "I don't advise any of my clients to run out and run up the bills again, but, if someone does need an automobile, they can go and will be able to get credit. You don't have to go underground or something to get money."

If you are planning on buying a house or a car, however, you might want to do that before you file. Those loans will be harder to get and there will higher interest rate on such a large purchase, after you file for bankruptcy.  Also, if you have zero balance on a credit card on the day you file bankruptcy, you do not have to list it as a creditor since you do not have any debts on it.  You might even be able to keep that cared after the bankruptcy.  For more information bankruptcy, come visit our Fremont bankruptcy office for consultation.


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