After filing for bankruptcy, clients often ask will I ever get credit again?
Believe it or not, you can get great credit after bankruptcy. Ironically, after a Chapter 7 bankruptcy, you not only have no debt, you also cannot file another bankruptcy for another eight years. Therefore, creditors can consider you an excellent credit risk. Even though for the first few years after filing for Chapter 7 bankruptcy, you will not receive the best house mortgage or car loan interest rates, you can rebuild your credit over a few years, and eventually, you will receive the same rates as everyone else. Better yet, after ten years, the bankruptcy will no longer even appear on your credit report. At the end of the day, your ability to obtain credit after a Chapter 7 bankruptcy depends entirely on how you use your fresh start.