2006-11-20 07:30:52 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
DJ's answer is correct. I have family members who got tons of credit offers after bankruptcy because lenders know you can' t file again anytime soon, but the interest rates are a bottomless pit. If you have a heavy debt load, call each lender and ask about reduced or frozen interest and payments you can manage. One person I know got their interest reduced to zero and then made progress on a pay off. Many lenders would rather reduce your interest, balance and payments if you just tell them you are in trouble. If you are not in trouble then start now to avoid debt.
2006-11-20 07:46:34 · answer #1 · answered by sw-in-gardener 3 · 1⤊ 0⤋
in case you report financial disaster over a $15,000 credits card debt, that should reason you plenty circumstances that quantity in issues over the subsequent 7 to 10 years. the 1st element you may do is to shrink up each and all of the credits enjoying cards so which you're actually not tempted to start utilising any of them lower back. Any form of pastime money that should pop up for something could be two times as extreme as they generally could be. call the credits card holders and paintings out a charge plan with them. pay off the optimum pastime value card first. The lenders can nevertheless come once you after the financial disaster era has ended. i be attentive to a individual who substitute into hounded by utilising the sequence enterprise who had bought his debt from the economic corporation, 10 years after he had filed! He could get 4 or 5 telephone calls countless circumstances a week. no you are able to still hire him because of the fact they have been frightened of what might happen to their money if it wasn't used for components. This went on for years, Even an lawyer pal could no longer legally save the sequence enterprise from hounding him because of the fact they owned his debt. He only had to pay money for each little thing to maintain them out of his banking business enterprise. financial disaster will save your lenders at bay for some years, yet they continually come after their money interior the top. they do unlike having to make something of their clientele pay on your debt by utilising elevating fees of pastime to make up for lost money. stable success inclusive of your venture! only get desperate to do the main astounding element and you'd be plenty extra suitable off.
2016-11-25 21:32:45 · answer #2 · answered by ? 4 · 0⤊ 0⤋
yes, but you will be at a very high percentage rate for payback. It can be in the range of 30 percent or so. Credit cards will be secured, that is they will want a deposit before they will issue you a credit line.
2006-11-20 07:40:20 · answer #3 · answered by wzrdsndrgns 3 · 0⤊ 0⤋
Only those companies with extremely high interest rates. They're willing to offer you credit because they know they'll make an obscene amount from the interest charged alone.
2006-11-20 07:39:00 · answer #4 · answered by DJ 5 · 1⤊ 0⤋
No you will be unable to get credit in any form. Until your bankruptcy is discharged you will be deemed a bad credit risk and this will last until you have rebuilt you credit rating in the years after the bankruptcy.
2006-11-20 07:37:22 · answer #5 · answered by Grannygrump 3 · 0⤊ 2⤋
ha ha ha you are allowed to recieve £250 per year this must be arranged through your administrator or you can be jailed for breaching the order. most lenders would refuse you credit any way!
2006-11-20 07:41:41 · answer #6 · answered by John B 2 · 0⤊ 0⤋
i wouldn't want to file bankruptcy..just fix your credit with a legal attorney in your town
2006-11-20 07:40:17 · answer #7 · answered by Anonymous · 0⤊ 0⤋
in some cases you do have better credit after bankruptcies then they had before,,,, but i wouldn't want to try it
2006-11-20 07:38:04 · answer #8 · answered by just a mommy 4 · 1⤊ 0⤋
yes, because they know you can't take bankrupt again for many years by law.
2006-11-20 07:37:58 · answer #9 · answered by Sufi 7 · 0⤊ 2⤋