What can debtors do to re-establish their credit after filing bankruptcy?

Posted on June 13, 2013. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Bankruptcy Attorney | Tags: |

A mandatory debtor education program is required in connection with Chapter 7 and Chapter 13 cases that can help debtors understand how to re-establish and maintain good credit. Also, after discharge in Chapter 7 or 13, debtors may be able to obtain a “secured” credit card, which requires that the debtor deposit funds with the credit card issuer. This provides the opportunity to show responsible use of credit, which is a major factor in any issuer’s credit decisions. (Other major factors are length of employment and length of residency.)

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