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Will I Ever Be Able To Get Another Credit Card Again If I File For Bankruptcy?

Yes, you will. And a lot quicker than you may think.

When you file for bankruptcy, unsecured creditors (such as credit cards, medical bills, payday loans, etc.) are discharged. They are knocked out forever. When this happens, there is instant relief. But most people believe that their chances of ever owning a credit card again are dashed once the discharge occurs. Well, the exact opposite is true. In fact, once you receive your official discharge of debts, you will be flooded with credit card applications. The sheer weight of all the credit apps you’ll receive will nearly cause your mailbox to collapse.

And the reason for this is simple: Overnight, you will have become the most attractive candidate in the world. All of your old debt will have been wiped out, which presumably means you’ll be able to make monthly minimum payments much more easily. And the creditors know that you won’t be able to get another bankruptcy discharge for several years (for example, the rules state that you can only file a St. Louis Chapter 7 bankruptcy every eight years; and a discharge of unsecured creditors in a St. Louis Chapter 13 bankruptcy can be had so long as several requires are first met).

I’m not suggesting that once you get a discharge of debts after you file for bankruptcy, that you run right out as quick as you can and get a bunch of new credit cards! Most people would find that a ridiculous proposition, considering the fact that the cards had caused so many problems before. But for some, it is an ideal way to rebuild a credit score quickly.

The St. Louis bankruptcy attorneys at Brinkman & Alter, LLC have been making sure that our clients receive the best legal advice possible for years. Our goal is to put you in the best possible position before, during, and after you file for bankruptcy. One of those main goals is to give you salient information so that you can begin to rebuild your finances as quickly as possible after you receive your discharge. In this way, our bankruptcy lawyers can help get you the fresh start / clean slate that you deserve. All phone conversations and office consultations are free of charge.