If I file for personal bankruptcy, will I ever get credit again?
Credit is everywhere in North American society. Very few people could buy a house or a new car without credit. People in financial trouble that filing personal bankruptcy in Canada, or Chapter 7 bankruptcy in the United States will mean that they can never get credit again.
In fact, once you are discharged from bankruptcy, it is possible to re-establish your credit.
First, start saving money. By saving money you demonstrate to potential lenders that you have learned to handle money. Your savings can also be used as a down payment on a car or other large purchase.
Next, you could apply for a secured credit card to re-establish credit.
By continuing to save money you will find that you can re-establish your credit relatively quickly, so make a a budget and get started saving money today.
Credit is everywhere in North American society. Very few people could buy a house or a new car without credit. People in financial trouble that filing personal bankruptcy in Canada, or Chapter 7 bankruptcy in the United States will mean that they can never get credit again.
In fact, once you are discharged from bankruptcy, it is possible to re-establish your credit.
First, start saving money. By saving money you demonstrate to potential lenders that you have learned to handle money. Your savings can also be used as a down payment on a car or other large purchase.
Next, you could apply for a secured credit card to re-establish credit.
By continuing to save money you will find that you can re-establish your credit relatively quickly, so make a a budget and get started saving money today.
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