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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Is it easier to get credit after filing a chapter 7 or chapter

Resolved Question:

Is it easier to get credit after filing a chapter 7 or chapter 13 bankruptcy, at what period of time can u start reestablishing credit?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,


Thank you for your question. I am happy to assist you.


My experience has indicated that it appears easier to reestablish credit after a Chapter 7. The reason for this seems to be that after a Chapter 7 discharge, the debtor is prohibited from filing another Chapter 7 for 8 years. This means that the individual has very few debts remaining after discharge and an inability to receive a second discharge for 8 years.


I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
Customer/span>



THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

Customer: replied 8 years ago.

 

At what point can you start reestablishing credit?

Expert:  Ellen replied 8 years ago.
Hello,

I have found that the best time is immediately after discharge. If credit is not reestablished after 2 or 3 years, it seems to become progreesively more difficult.


Good luck.


Thank you,
Customer/span>





THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE


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