You can get credit after you file for bankruptcy.
It takes time to re-establish credit, but you can if you want to get credit.
I say ” if you want to get credit” because it is a very tempting to start going back into debt.
The main reason you can establish credit after a bankruptcy is because your rights to discharge the debt again if you get in over your head are limited.
First, you cannot file another Chapter 7 bankruptcy for eight years from the date of the filing of a previous . As a result of the eight year limitation on filing another bankruptcy, many creditors are willing to extend credit to people who have filed for bankruptcy.
The creditor knows that your only option if you get over your head during that eight year period is to file a Chapter 13 bankruptcy where you may have to pay all or part of your debt.
A second reason you can establish credit after filing for bankruptcy is that the creditors know that you have gotten rid of your other debt and are now more likely to be able to repay the newly incurred debt.
If you do decide to re-establish credit you need to take the time and read the terms and conditions of the creditor.
Many times there are high monthly and annual fees as well as high interests rates for post discharge borrowers.