How long when you've been discharged from bankruptcy can you apply for a loan or credit card?

Answer 1

Didn't you learn anything from going bankrupt? Don't incur more debt. Only buy what you can afford by paying cash!

Answer 2

You can APPLY the day the bankruptcy is discharged. You will probably have credit card offers in your mail by the end of the month. I know DOGS (as in four legs, a tail, and barking) that have been approved for credit cards. If your credit record AFTER bankruptcy is clean, you can get reasonable terms on a mortgage after 3 or 4 years. The bankruptcy will appear on your credit report for 10 years.

Note: I am NOT recommending debt. I am just answering the question actually asked.

Answer 3

Increasing number people are filing for bankruptcy to get out of debt. But, what is bankruptcy? Do you know enough of it? How does it help you? If these questions also bother you, the following article describing 7 most important things about bankruptcy will help you get an answer.

1. Bankruptcy is process adopted by federal court process catering to individuals and businesses repay their debts or clear their debts under the protection of bankruptcy court. Also known as "reorganizations " or "liquidations", bankruptcy is often the last recourse to get out of any debt.

2. When the property of the debtor is sold to recover and pay off the debt it is called Chapter 7 bankruptcy. Contrary to popular belief, all the property owned by a debtor is not sold, some part of it is left with him to allow him to start afresh.

3. When there is no sale of property but the debt are reorganized so as the debtors, are able to repay them over a long period it is called Chapter 13 bankruptcy.

4. Both these types of bankruptcy have a large number of rules, and exceptions, suited to different kind of debts, individuals and other concerns.

5. The "ticket in" is counseling session that everyone who wishes to file a bankruptcy must attend. This session must be attended at least six months prior to filing for bankruptcy. This term was adopted in the new bankruptcy law. Read more from: http://www.credit-card-gallery.com/article/226,7_most_important_things_about_bankruptcy

Answer 4

It generally takes three years to build your credit back after a bankruptcy (enough to qualify for a loan anyway)...start small and try to apply for a small loan at first to build your credit ..

Answer 5

7 years

Answer 6

i got my first card, sears, after three years. va told me three years was long enough for them too for home loan.