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Q.Will I be able to get a credit card after bankruptcy?
A.When a person files for bankruptcy, the debtor must reliquish all credit cards to the trustee. When the bankruptcy is discharged, the discharged debtor is often now considered a good credit risk for two reasons: (1) the discharged debtor has no debt and (2)he discharged debtor cannot refule for bankruptcy for 7 yers. Nevertheless, a discharged debtor will often find it difficult to get a new credit card. One option is to request a "secured card" from your financial institution. A "secured card" is a card backed-up or secured by funds you have deposited with the bank or credit union. The card looks like a credit card, and acts like a credit card but will have a limit depending on the amount of money that secures the card. Use of the secured card will often enable you to reestablish your credit and build a good credit history.
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