Can You Use A Credit Card After Filing Chapter 7

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Can you use a credit card after filing chapter 7 – Posted on feb 11 2014. It wouldn t be fair for you to discharge that 5 000 balance you owe to first national visa but keep the personal loan you borrow from the credit union at work.

You can apply for a credit card after your bankruptcy has been completed or discharged but you ll likely only be approved for a couple types of cards.

Can you use a credit card after filing chapter 7 – The creditor can charge you a higher interest rate. A few unsecured credit cards you may be able to get after a bankruptcy are the credit one bank platinum visa the total visa credit card and the indigo platinum mastercard. Unsecured credit cards are generally more difficult to get approved for after a bankruptcy but you could get one of these unsecured options as long as the bankruptcy process is over. Can you use a credit card after filing chapter 7

Under chapter 7 bankruptcy many of your unsecured debts can be completely wiped out including credit card debt and medical bills. When you file for chapter 13 bankruptcy you ll be required to pay back some portion of your existing debt. Bankruptcy isn t a pick and choose proposition and all creditors are to be treated the same. Can you use a credit card after filing chapter 7

You typically can t keep credit cards if you declare bankruptcy. You can should exclude any credit cards that have a 0 balance from your bankruptcy but you need to understand one thing having a credit card not listing it on your bankruptcy doesn t mean you are off scot free. Types of credit cards you can qualify for after filing chapter 7 bankruptcy credit cards that you might qualify for may be secured or unsecured. Can you use a credit card after filing chapter 7

After bankruptcy you ll probably have to pay higher interest rates and other fees for an unsecured card if you qualify at all with a recent bankruptcy on your credit history. For instance if you received a discharge in a chapter 7 case you can t receive another chapter 7 discharge for eight years. These include secured cards that require a refundable deposit and subprime cards designed for people with bad credit. Can you use a credit card after filing chapter 7

It is a good financial risk for some companies she says. Large creditors check bankruptcy filings frequently while some companies will welcome your continued business others will cancel your account without explanation in a heartbeat. After filing a chapter 7 bankruptcy for example a person cannot file another one for eight years. Can you use a credit card after filing chapter 7

Posted on feb 11 2014. Can you use a credit card after filing chapter 7

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