How long will it take to repair my credit after filing for bankruptcy?
The chances are, you will receive pre-approved credit card offers in the mail after your discharge in
bankruptcy. Creditors know that debtors cannot file a Chapter 7 bankruptcy petition within 6 years of
another Chapter 7. Debtors may only file a Chapter 13, which is a payment plan. Thus, the odds are
improved that you will make payments on their credit, and therefore extensions of credit are more
liberal to bankruptcy filers. This presents people that emerge from bankruptcy with an opportunity to
reestablish their credit. Although the interest rates will surely be higher due to the bankruptcy filing,
debtors do not need to pay the interest if the account is paid in full every month. Thus, you can build
your credit score by using these new credit opportunities sparingly and carefully.