How to Obtain Credit After Chapter 7 Bankruptcy

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Obtain credit after a Chapter 7 bankruptcy by listing your bankruptcy on the application and demonstrating that you have the ability to make payments on the credit line. Be sure to have a stable income before applying for credit after bankruptcy and consider other advice from a family lawyer in this free video on bankruptcy.

Part of the Video Series: Bankruptcy Questions
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Video Transcript

You've recently gone through a Chapter 7 bankruptcy. And unfortunately, you have found that you are still in need of credit. Despite your discharge from the Chapter 7 bankruptcy. Hello, I'm Robert Todd and I'm here to answer the question. How to obtain credit after filing a Chapter 7 Bankruptcy? Well, you may be surprised to learn that after filing a Chapter 7 bankruptcy and being discharged. You maybe as good a credit risk as someone who hasn't filed bankruptcy. The important thing to remember is when you apply for credit. That you list on your application for credit, your bankruptcy. And the specific information that is requested in the application. You don't want to falsify any information. Because that would certainly be grounds to deny you any credit. And it may have deleterious effect on your ability to get credit from some other lender. The next thing you want to do, is you want to be able to demonstrate that you have a stable income. And that, with this stable income . You will be able to make the payments for the amount of credit that you are applying for. In this way, you can demonstrate to the new lender that's affording you credit. That you have a satisfactory debt to income ratio. I'm Robert Todd and thank you for watching.

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