Can I get credit after bankruptcy?

Generally, Yes. Bankruptcy does not end one's ability to borrow money, although it impacts exactly what credit is available.

The more difficult question is when particular kinds of credit might be available, and on what terms. This is necessarily fact-intensive, i.e. dependent on particulars of an individual person's case. Broadly speaking, individuals with favorable income-to-expense ratios and more stable employment will find more favorable credit opportunities faster. A willingness to shop around lenders is especially important when rebuilding credit after bankruptcy, as not all lenders view a recent bankruptcy the same.

Once the bankruptcy is starting to move into the past, two things lenders might realize are: (1) there are fewer old debts to compete for the borrower's scarce funds, or (2) after a bankruptcy discharge, it is 2-8 years until another discharge is possible. Lenders make money by loaning money, and the reality is that the post-bankruptcy market is a large field in which to do business.

Share this page:

This question-and-answer post is made available for educational and informational purposes only and to promote a general understanding of the law, and not to provide specific legal advice. In order to provide a concise response, the author must make certain assumptions about the ordinariness of the situation underlying the question posed, assumptions which may not apply to your real circumstances. Use of this site does not create an attorney-client relationship. Reading this post is not a substitute for obtaining legal advice based on the unique facts of your situation from an attorney licensed to practice law in your state. No representation is made regarding the currentness of the information contained in this post. Examples that may be provided in this post are merely for illustrative purposes; the results in your case may be different and no results are guaranteed.