If you owe money to a credit card company at the time you file for bankruptcy, you can list the card as a debt. The schedules contain perjury, which could result in the denial of debt discharge. Avoid the issue of your debt being transformed into a federal offense. If you owe no money to the credit card company, they do not require a bankruptcy notice. However, you must be vigilant because they can and will discover ways to cancel your card. In some instances, companies may permit you to retain your account, but only if you agree to sign a new agreement.
Even if you have recently emerged from bankruptcy, it is possible to obtain credit. It is considerably more costly than the standard version, and the limit can be quite low, but it is possible. If you desire a lower rate, it is feasible to obtain a secured credit card even after you have emerged from bankruptcy. After that, you must begin establishing excellent credit. You must now exercise extreme caution and respect. You are still in a very precarious position. If you are not cautious, you may be victimized by poor rates and cons. Always consider the benefits and drawbacks of each card option.
After the insolvency period, it is also possible to purchase a residence. Within two to three years, creditors may be able to offer the same loan terms as to individuals who have not filed for Chapter 13. Typically, the lender is more concerned with the down payment. Additionally, they will be more interested if you have a steady employment.
Overall, bankruptcy does not have a significant impact on credit. Your net worth is more crucial than your credit score. When you emerge from bankruptcy, you must place yourself in a more stable situation. You cannot erase your traumatic financial past, but you can use it to your advantage in future endeavors.""
" - https://www.affordablecebu.com/
